Monday, August 15, 2011

MONEY MONEY


The DEBT talk -- the ceiling! cut this! cut that! -- well, at least the daily ranting about the debt's simmering down.

Now is the time for me to dare to grab the subject, and ask loudly, ask smartly, or dumbly, why does the debt have to be paid off?

Don't shout back your answers right now. Just travel along with me on this subject for a minute.

Experts -- the best, most trusted, smartest money advisers, say pay off the national debt so that our children and their children and their kids, and the kids' children aren't inheriting it.

Experts say, pay it off now, before the interest on the debt becomes more than the debt itself. This is credit card practical reasoning, that you and I are familiar with.

Politicians have made this their issue -- it sounds good. It's sells. It appeals to folks with families, homes, possessions that they've worked hard to get-- stuff they've bought with their credit cards.

Does this practical, solid, sound, financial reasoning apply to our country?

NO.

We can pay for what the government is/was/ passionately, trying-trying to handle, IF tax cuts are not renewed, IF those who benefited from these tax cuts pay their taxes.

We are fighting a war.
Health care needs financing.
Roads, bridges, buildings, railroads, electrical grid, our power supplies need repair. refurbishing, updating, and expanding.
Our population is growing -- things are being used more than ever before.
People need jobs. Fixing things will make jobs.

We can't have America the beautiful, can't fight the wars we're fighting to expand and protect democracy, can't fix what's broken down and worn out, can't pay for SS, Medicare, health care, and unemployment insurance, without spending money.

Stop, close your mouth -- don't spout the logic, the seductive words of politicians. Go with what you know about this country and want to maintain in this country.

I'll say it again -- if our government stops spending money on current needs, in order to pay off the money that was spent by the government years ago, we're stuck with where we are right now. Right now we are stuck.

Okay, I know and already can name people, friends, who do not agree with me.

Friends, Americans, countrymen, stop repeating the bad words -- wash your mouth out with soap -- those bad words are personal convictions, election hopes, promises, political dreams. Let's handle what's happening right now.

Fun pictures about all this:

6 comments:

Anonymous said...

How can we pay them of about 2 trillions a year revenue and 14+ trillions of deficit on top off trillion of deficits

Carola said...

I love the debt ceiling cat. On a more serious note: Of course we have to have a debt. We do have to show realistic plans of reducing that debt, or the Chinese will no longer loan money to us. We shouldn't be doing that right now, because of the recession, but we have to have a serious and realistic plan. Including some taxes.

Les Floyd said...

If the US decided not to pay its debt, you would quickly be in an united state of collapse. You would basically be closing your borders to imports - because you couldn't pay for anything - and would have to be entirely self-sufficient, for everything from tooth brushes to fighter jets.

However... if the whole world decided not to pay its debt, there'd be a few thousand angry bankers, but near-on seven billion others who would breathe a huge sigh of relief.

The debt doesn't exist. Everyone knows it. It's like the Emperor's New Clothes.

Larry Enright said...

Just my two cents, but why does the Federal Reserve lend out money at almost zero interest when the Federal Government must borrow it at substantially higher rates? Seems like a bad way to run a business to me. You would never see a private bank doing that. Other governments are borrowing from us for nothing and using that borrowed money to buy our securities, making a nice profit. What's wrong with that picture?

Eddie Rotten said...

Im too conspiracy driven to believe our debt was an accident in the first place. I am worried about our generations to come. We bicker now, but how relevant is it when my two year old is ready to go to college? I've never owned a credit card, and I'm told by the government that for me to establish credit, i have to go into debt to show stability. That is backwards. Teaching our children that is a conscious lie. I've never
been in debt and don't plan on starting by borrowing money. Smart living is the way to go. BTW. we all know the government doesn't plan on paying anyone back.

Anonymous said...

Comment, the chinese will continue to loan money to us (the U.S.A.) it's in their self interest according to Sunday's Fareed Zakaria and his astute guests. It's all about balance, first you have to find a country that's big enough to get involved with, right now those countries are limited to the U.S.A. probably for a long time. China would put itself in grave danger economically if they stopped loaning money to the U.S.A. It's good business for China to loan money to the U.S.A. and it's equally advantageous to the U.S.A. Think we need to think in global interests, as we did when major powers decided they would not blow each other up with an atomic bomb because no one wins same with economy. That's what I understood after watching GPS on CNN last Sunday. Cheers, Heather Mash

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