As many US citizens are aware, the National Debt took a quantum leap with the current administration, and is still rising rapidly. We are fast approaching what is called the “Debt Ceiling”, a value set by congress as the maximum hole we can dig for ourselves.
We have two major problems.
1) If Congress does not raise the debt ceiling, we will default on treasury loans, and it will derail economic recovery. (supposedly)
2) If we raise the debt ceiling beyond the $14.3 Trillion, we will dig ourselves so deeply into debt, that not even the tax collections from our great-grandchildren would be able to pay the interest on the loans.
In either case, whether they raise the debt ceiling or not, there’s going to be some squealing. We the people will squeal because the already ailing economy will take a big hit. Albeit, the hit will be short-term, and mostly force the government to take severe actions to reduce their spending. That’s where more squealing would come from. Government agencies would seemly be almost paralyzed due to lack of funding. Services would be reduced, and some stop altogether. The politicians in both the legislature and administration would be squealing – mostly blaming each other for the calamity.
Frankly, I don’t want to hear it. THEY spent and indebted the people into this position. I don’t recall signing any loan, yet you, me, our families, and everyone we know are on the hook for this debt, and if we default, it’s not like we can walk away out of bankruptcy court. The debt actually is a debt of wealth converted into printed Dollars that effects the value of the US dollar. So our ability to buy and sell, our savings, our retirement, our investment will go right down the drain.
So which is the better option. Take the short-term pain now, or defer, delay, and hope for the best without actually changing our over-spending habits?
We’ve already seen how the bailouts have failed. The US government traded short-term pain, for long-term catastrophic burden on us, with our money. Then the US Government started to bailout other companies that did not manage their finances properly. They did this on us, to us, with our money. Now the US government is trying to bail itself out by getting into more debt on us, to us, with our money. They are creating a snake eating it’s tail. They are setting the people up for catastrophe. They are not be responsible or accountable.
It’s time to learn the hard lesson of too much debt before we get to a point where things are completely unrecoverable. It’s time to let the Government suffer consequences for their irresponsible actions even if it means we suffer some discomfort. Otherwise what we trade off in the short-term will destroy us in the long term. We must not raise the debt ceiling. We must demand that the government stop over-spending OUR money and making debt on OUR backs.
Radical and Right
Red State Radical