Our National Debt
Our National Debt
- Let's Make It Clear - (part 1 of 2)
Have you followed the congressional and presidential debate and lack of debate over our national debt as presented by our national media outlets? Are you sick and tired of experiencing the media's analysis and reanalysis regarding who, what, when, where, why and how of our country's debt problem?
Our country currently has a group of politicians, religious leaders and leaders in various positions in our national media who are Modern American Progressives and in most instances you will find that they proudly label themselves as such. Who is the Modern American Progressive? They are those individuals who act as if they know how to make better decisions for you than you can for yourself and for our country while demanding that you to put faith in their proposals based on what they tell you will miraculously happen in the future if you simply do as they tell you. If someone chooses to follow the proposals that the Progressive offers, that person is required to ignore the past personal behavior or the history of the accomplishments of the Progressive and deny past historical facts. The Modern American Progressive demands that you to believe in the promises they make for your future without any proof on their part because the foundation for their philosophy is based on a belief in a magical evolutionary system that will somehow make things better in the future if we only follow their desires. The bottom line is, Progressives lie.
The overwhelming majority of Americans will make good decisions about issues if they are provided with truthful information presented to them in a clear and common sense manner. Regarding our national debt, do you believe that the US House of Representatives, the US Senate or the President of The United States of America have offered the American Public a clear, truthful and common sense look at the issues regarding how we got to this point, why we need to reduce our national debt immediately and eliminate it within a short period of time? The following story should be simple enough for even our Progressive elected officials to understand.
Lets take a look at a hypothetical family, Mary, Bob and their three children; Susie (22 years old), Bill (14 years old), and Alice (10 years old). Mary and Bob have been married for 25 years and started their married life together living a lifestyle that allowed them to save 15% of their income for "rainy days" and for their retirement. Before Susie was born they borrowed money for a house, two cars and charged a two-week vacation on their Mastercard. By the time Susie was born they both were making more money, they had bought a bigger house with a bigger mortgage, made their car payments on time, paid the minimum amount on their Mastercard and notice that they were only putting 10% of their income into the rainy day fund. Through the years Mary and Bob obtained Visa Cards, American Express, an equity loan on their house and with the good credit rating they had, without paying any money down, bought new cars for themselves and one for their college student, Susie. Bob and Mary found that they could take family vacations, make their children happy with things they bought for them and live a lifestyle that seemed to be the envy of their neighbors by borrowing money from a continual stream of new sources of credit and dipping into their rainy day fund once in a while.
One month, in order to pay their monthly bills, Mary and Bob decided to fill out a new credit card application that had recently arrived in the mail and use that credit line. Online they filled out the application and a couple minutes later their application was denied. This had never happened before. They then called their mortgage holder and found that they could borrow no more money on their house. On that Friday evening Bob and Mary took all of their bills, placed them on the kitchen table next to their laptop, then entered all of their monthly payments into a spreadsheet and took a really hard look at how those payments balanced against their monthly income.
For years they had been borrowing money to pay for the growing BORROWED debt they continually accumulated. After staying up that night and taking an honest appraisal of their financial condition, Bob and Mary looked at each other with a realization that they simply did not have enough money each month to pay their bills and they realized that their rainy day fund was gone. The bills they were paying created a deficit because the amount needed to pay their bills each month was greater than their monthly income. They asked each other, "What can we do"? "What should we do"?
What did they decide? Next Week - (The Resolution)
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" Honest history does not matter. What I want, what I feel at this moment in time, and the plans I make today are the only realities that matter."
[Nick Streza. PROGRESS IN AMERICA, Redefining The American Dream, (Tate Publishing 2011), page 13]
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