Latest information stories remind me of an aged Sunday Peanuts comedian strip. Snoopy is out jogging a person working day when his knees start off to complain about the punishment they are using from the jog. The feet then chime in about how they are using the most pounding and how much they harm. The lungs then volunteer that they are absorbing the most punishment considering that they have to get the job done so really hard pumping air into the physique. The ears even complain about how cold they are and why were being they exterior jogging in any case. At that issue, the heart states a little something to the influence that they are jogging for the heart’s gain mainly because if the heart goes, every thing goes. At that issue, all physique areas go silent and the jog continues.
So it goes with the Federal budget deficit and our skyrocketing countrywide credit card debt.. If we can’t take care of our fiscal problem, almost nothing else issues. Considerably like the heart, if the fiscal foundation of our country is ruined, then almost nothing else has any value. You can’t even converse about world warming, a countrywide energy program, increasing general public colleges, combating drug habit, defending the country, supporting out the needy, making and retaining task growth and financial growth, almost nothing else. If the heart goes, it does not make a difference how powerful your legs are or how much air your lungs can pump. Considerably like the heart, sound fiscal plan makes every thing else achievable.
The severity of our fiscal distress was recently brought to brain all over again while looking at the Might 31, 2010 concern of Business Week magazine. In a quick blurb, Business Week asserted that overall U.S. credit card debt, as of Might 26, was $12.996 TRILLION. Offered that we are now earlier that day, I feel it is protected to think we have damaged by the $13 TRILLION threshold. What does this necessarily mean:
– At $13 TRILLION, the ordinary U.S. house is on the hook for about $113,000 well worth of authorities credit card debt. Considering the fact that the authorities does not create wealth, it can only confiscate wealth from its citizens, at some issue we are all dependable for paying down this credit card debt.
– At $13 TRILLION, just about every male, girl, and kid in the country is dependable for about $forty two,000. So, a relatives of four is on the hook for about $168,000.
– The Obama administration’s ten calendar year budget system calls for yet another $8 TRILLION or so in credit card debt to be accumulated by the Federal authorities, boosting each household’s credit card debt burden to about $one hundred seventy five,000 if almost nothing is performed to modify the craze.
– Very last summer time, Forbes magazine ran an article exactly where they approximated the overall wealth of the 400 richest People in america. As an illustrative case in point of how large the Federal credit card debt is, think that the Federal authorities confiscated the overall wealth of these 400 People in america. Their overall wealth, not their money, so this confiscation would be a a person time shot. The overall wealth that could be confiscated was approximated by Forbes in the article to be much much less than $3 TRILLION. So, soaking and bankrupting the loaded will not come near to paying down this skyrocketing credit card debt, just about every U.S. living and to be born in the foreseeable foreseeable future, is dependable for a large part of this $13 TRILLION.
– From a liberty standpoint, you can’t are living in a cost-free country if the political course and the authorities in that country burden you with this sort of credit card debt. By functioning up this sort of a huge deficit, a deficit that we will all have to pay back down or endure the outcomes of default, we shed our liberty to devote our wealth on what we want to devote it on. We can’t send our kids to a improved college, start off our very own business, retire when we want to, assist out a charity or blow it all in Las Vegas.
Give the dire problem of our county’s heart and foreseeable future, what has the political course been keeping themselves active with in the earlier calendar year or so:
– Congresswoman Anna Eshoo of California and her employees were being active performing on laws to Federally regulate the sound volume on television commercials. Never ever brain that Tv set watchers can mute the sound, modify the channel, depart the home to get a little something to try to eat, rapid ahead on their DVR equipment, or just dismiss the Tv set for 60 seconds. Why get the job done on soaring deficits (and other significant countrywide challenges) when the Tv set business sound volume concern is so urgent?
– Congressman Jim Moran and his employees were being active investigating whether male dysfunction television commercials really should be banned. I did not know this was so crucial possibly. As with Ms. Eshoo, let’s dismiss genuine budget and fiscal concerns going through The usa and get the job done on E.D. commercials.
– Congressman Thaddeus McCotter and his employees were being active performing on laws to deliver up to $three hundred a month in money tax deductions so that the unemployed do not have to set their pets up for adoption. It’s possible if his employees and he were being performing on how to get The usa performing all over again, which would boost tax income to pay back down the deficit, there would be no have to have for this absurd program that would hardly ever be able to be tracked and would be rife with fraud.
– Hawaiian Senator Daniel Inouye’s and his employees have been active supporting a bank in Hawaii get bailout income from the FDIC following the FDIC determined the bank was not well worth preserving. Turns out that the Senator had invested greatly in the bank and stood to shed a load of income except the bank was saved by the American taxpayer.
– Ex-Congressman William Jefferson of Louisiana was active getting convicted of using bribes and was sentenced to 13 yrs in prison. You may well recall that Mr. Jefferson was caught with frozen bribe income in his house freezer.
– Also, Congressman Randy Cunningham was active getting sentenced to eight yrs in prison for using $2.four million in bribes, Congressman Bill Ney was active getting sentenced to two and a 50 percent yrs in prison for using bribes, Congressman James Traficant was active getting sentenced to seven yrs in prison for using bribes, and the majority of ex-Governors of Illinois were being possibly active serving prison time, have served prison time, or may well quickly encounter prison time.
– 60% of the Congressional customers sitting down on the Dwelling Armed Companies Committee were being active obtaining campaign contributions from the incredibly businesses that they had formerly earmarked pork barrel budget income for.
– Congressman Charles Rangel of New York was active staying investigated for a quantity of ethics violations including, but not minimal to, non-declaration of rental money, specific property, and other money.
– Fifty Republican Congressmen and women were being acquiring laws to replace Ulysses S. Grant’s photograph on the $fifty monthly bill with Ronald Reagan’s photograph. Offered that all U.S, currency will quickly be worthless except the countrywide credit card debt is brought less than manage, this would seem like a quite worthless endeavor.
– Each and every member of Congress has been active in the growth of the above eleven,000 wasteful earmarks and pork barrel paying out applications, in the hottest Federal budget, for their house states and districts, the large majority of which are almost nothing extra than re-election badges for incumbents and all of which exacerbate the huge authorities deficit.
So, fairly than solving the a person significant problem on which all else relies upon, numerous customers of the political course selected to get the job done challenges that would almost certainly not even make America’s top rated fifty worries (Tv set commercials and doggie deductions), were being active using bribes and/or serving time for using bribes, or were being active diverting taxpayer income to their very own particular gain. Acquiring again to the Snoopy and Peanuts analogy, these politicians are active placing earmuffs on cold ears and or tightening up their scarves while the physique is in the center of a large coronary.
That is why it is critical to vote out all incumbents in November and spot into place of work a new breed of politician that realizes what the significant concerns are going through this country, with fiscal soundness staying the most critical. We have to have new associates that can choose unselfish, daring motion to take care of and address these concerns. Pay attention to Snoopy, take care of the heart 1st and then every thing else is achievable.