As much as Ranger Rick has his op
inions diametrically opposed to the author of this “on-line rag” (his words, not mine), I think we both realize the U.S. is in dire straits in terms of debt.
My idea is government spends too much, regulates too much, and generally screws everything up. My idea of government (both federal and state) is smaller is better and all legislative branches should be part-time and paid that way. My friend author thinks, like most left-wingers, government hasn’t done enough and needs to spend more of what we don’t have and they never saw regulation they didn’t like, especially if it is on those big business types.
Looking at the federal debt shows they have done quite enough to place an economic burden on all of us, with help from Remocrats – also known as RINOs (Republican in name only).
Typical of debt creating governments, Greece is in jeopardy of complete collapse. I’m sure the Eurozone prop up and giving more Euros to spend and piling on more debt that they have no way of ever repaying. According to “Uncommon Wisdom Daily,” author Brad Hoppman cites “Greece owes $177 for every dollar it earns, giving it a debt-to-income ratio of 177%. Yet here in the United States, the average household owes $204,992 in everything from mortgages to credit cards to student loans. And with a median household income of only $55,192, you get a debt-to-income ratio of 370%! And that climbs to 635% when you add in every household’s portion of the $18.1 trillion in national debt.”
The difference between Greek and American debt is we keep paying the interest on the debt so we are not in “arrears” (nice word for saying you don’t pay your financial obligations – think “deadbeat”). While the Federal Reserve keeps the interest low and continues to print money (look at it as more debt) and treasury bonds, which are sold to those countries wishing to own American debt, sooner or later, the interest rate will rise. And when that happens, the overall debt will rise because the interest on it will rise accordingly. We eventually will be unable to pay the interest anymore and we will be on the edge of the abyss like Greece. Who will help us? Why haven’t we been in trouble before this? Because the Federal Reserve has done what it has: keeping interest rates low (for both borrowing and depositors) and pumping trillions of printed treasury notes (cash, which in turn is debt) into the economy.
By pumping more money into the money supply, the banks get essentially free money to do as they choose. Shame on all those politicians now and in the past that squandered our “creditor” nation status to stupidly making us into a “debtor” nation, it is a travesty.
I’m not “doom and gloom” like some economists, I’m a realist. If we don’t stop expanding government growth and start shrinking it, it will overwhelm us. We cannot continue on this unsustainable path.
The first step in controlling costs is to slash government and start closing those departments that add nothing to the well being of the United States. Departments of Education, Energy, and Agriculture, among others, could be drastically cut or eliminated entirely. This idea most likely will put me at odds with my good friend Army Bob, but me being more Libertarian than Republican, I think closing all overseas service outposts should be done, or if the countries we are in now want us there, they pay for us to do so – completely – expenses, fuel, salaries, etc.
Don’t hire for those jobs being vacated by federal and state retirements. Slash yearly operational spending by at least 10% in every government department – directors and managers to determine how they will meet those budget numbers – let them earn their pay and make the decisions they were hired to do. Eliminate all foreign aid – it does us no good except to feed money to graft and corruption – little of it ever gets to the populace of countries receiving it. Iran will be getting $150 billion in Obama’s nuclear “agreement” – bribe money – let’s call it what it is.
Americans need to depend more on themselves and not on the government. Uncle Sam is not your friend, he is you enemy – he takes, takes and takes and never gives except if you are getting Social Security (that you and your employer paid for) and Medicare/Medicaid (that you and your employer paid for) or you are eligible for a tax refund (you’ve paid in more than you needed to), or federal/military retirement (that you earned).
Besides, it is not their money – it’s yours!
If you have large amounts of personal debt (car loans, student loans, “toys” – motorcycle, boat, ATV loans), I gently warn you to get it cleaned up as soon as possible. Consider me your favorite uncle giving you good financial advice.
Just remember, government is not your friend. Never was, never will be. They just like to pile on debt at your expense. Government doesn’t earn anything, they just spend YOUR money in the form of tax revenue. The politicians make the decisions, you pay the bill! Politicians feather their nests, and leave it to you to clean up after they retire with their millions. Notice how much they are worth when they enter office and how much they’re worth when they leave as millionaires. There are no patriots in office anymore, just politicians – and what they are doing when they open their mouths — lie, lie, lie!
The rotting of America from within continues…
