Admittedly, I try to avoid debt like the plague. I don't like to borrow money. I don't like to use the credit card. I paid off my house about 8 years sooner than scheduled. And so on....
Reading about the national government's debt frightens and bothers me. I think even more bothersome is how little it frightens or even concerns most people. At least that's how it seems--most people don't care about federal government spending.
Several observations:
In the recent May, the federal government spent $48,025 per second; yes, that's per second! Oh, and that wasn't what it spent. It's what it borrowed to spend; that is, the national government spent $48,025 that it didn't/doesn't have.
Isn't at all concerning that we borrow we money from the Commies in China or the conniving Saudi Arabians?
The President has the temerity, too, to claim that government spending has slowed to its lowest levels in decades. Wait a minute! The amount the federal government spent with borrowed money in May is more than the entire federal debt accumulated in the first 115 years of the nation's existence. In fact, it's five times more! I suppose there are several explanations why the President would make such a preposterous claim. One, he's not too bright. Two, he's very bright, but is lying. Three..., I'll let you think of a couple other explanations. Besides the outrageous spending, don't people get sick and tired of being lied to all of the time? Apparently they don't.
And what does it say about us, that we are willing to spend so much that we don't have for programs for us, while shackling the payments on our children and grandchildren? In fact, there is some serious doubt they'll be able to make the payments, considering recent economic trends. And so many of us are so quick to cite the "greed" of the wealthy, of Big Oil, of Wall Street, etc. "The fault, dear Brutus, is not in our stars, but in ourselves." Of course, few in the "I, Me, Mine" generations are willing to admit their own greed, pay more taxes themselves (note retired teachers's anger and opposition to taxing their pensions), and sacrifice for the good of their children and grandchildren.
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About Me
- Ron Marinucci
- I have been married to Karen for 47 of my 73 years. I have two sons, Mike and Matt, both adults (at least in chronological age), and three grandchildren. I am retired, I suppose. I continue to teach college history, part-time; I still enjoy it, although the increasing amount of silly paperwork is grating and will likely be what drives me to fully retire. I have a BA in history from Amherst College and three graduate degrees. I do a little writing, too, some of which actually brings in some money.
3 comments:
I agree totally about debt. Getting myself out from under the credit card companies was one of the best things I have ever done for myself.
I have even come to agree with your decision to vote third party in the coming election. I was once an Obama supporter but I can no longer hold my nose now that I know he is as big a sham as all the rest.
However, I am going to defend him a bit and point out that your contention that "The President has the temerity, too, to claim that government spending has slowed to its lowest levels in decades" shows quite a bit of temerity on your part as well since he NEVER said that. What he is claiming, and this is based on an analysis by Marketwatch, is that the rate of growth of government spending has slowed to its lowest level in decades. That is a completely different statement which is certainly arguable dependent upon how you attribute spending in 2009. But, it is nonetheless not what you say he claimed and I am quite sure you know the difference between a rate of growth of spending and a simple rate of spending.
As usual, there are "statistics, damn statistics, and lies." With all of the sneaky ways of reporting spending, debt, etc., perhaps the most efficacious is federal debt as a percentage of GDP/GNP. If that is the criterion, at almost 22% Obama is the biggest spender of at least the last five Presidents. The next highest spender comes in at about 14%. Of course, one might well argue that it's Congress that has the final voice over the budget....
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