You are deep in debt. You just do not know it!
If your son or daughter, your neighbor, your work mates, your best friend or your spouse kept spending your hard earned cash without your permission, I would bet that you would be more than a little ticked off!
And, if you found out that their out-of-control spending spree had put you $50,000 in debt, I would bet that the phrase ticked off would not even come close to describing your mood.
Well guess what?
This is not a wild, crazy thought. It is not a bad dream which will go away when the sun shines through your bedroom window. It is not an academic exercise. It is, unfortunately, the truth. You have a $50,000 debt burden due to the fact that the geniuses in the White House and Congress have overspent to buy votes. And, they used the money you earn everyday to do it!
A couple weeks ago the national debt flew past the $16-trillion dollar marker. That was not a meaningless achievement...at least not for working stiffs like you and I.
The significance of that uncountable number can be broken down to what it means to each of us. We are now, each of us, $50,000 in debt! That is the crushing result of wild, uncontrolled spending by the federal government...with the majority coming under the current out-of-touch administration.
And, the damage is not limited to the debt itself.
That amount of interest paid on the debt adds another staggering number to our national credit debacle. In 2011 for example, the government paid $358-billion in interest on the debt. News flash...that number will continue to rise along with the debt itself.
The sad part of all this is nobody seems to have the guts, the vision, or the political will to change this headlong dash into national bankruptcy.
We have created too many pockets of entitlement, giveaways, do the right thing programs in the name of social engineering, to turn the tide. The hands are out everywhere because folks have lost sight of the fact that there never has been, is not now, and never will be a free lunch. Everything the government gives it first has to take away in the form of borrowing, taxes and fees. Then, government takes the majority of the money off the top to administer the giveaways before the smaller amount reaches the destination somewhere within the deep layers of our society.
And, nobody elected to our highest offices seems willing to face another tough question either. What happens when our source of credit dries up and people have no more to add to the money pit. That days is coming and the numbers then will be even more staggering.
If this sound like a rant...if this sounds like I am more than pissed off...then I have done a good job expressing my feelings.
"We are now, each of us, $50,000 in debt! That is the crushing result of wild, uncontrolled spending by the federal government."
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About the editor.
Growing up in the 1950's and '60's gave over 60 million Americans a unique perspective...on life, family, expectations, achievement, overcoming, work ethic, respect, politics and just getting along. The viewpoint published in this blog is my personal viewpoint.
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