I’m not an economist. I am a working stiff. But I know a little bit about personal finance. I support a family and had owned my own successful retail business for eighteen years. I learned long ago that one cannot get out of debt through increased borrowing and wild spending. This is true for personal as well as business finance. Eventually every cent borrowed has to be repaid and every cent spent has to be recouped. When there is a deficit at the personal finance level, the belt has to be tightened and spending needs to stop. At the business level, costs have to be reduced or productivity has to increase at a faster rate than spending or the business will eventually become bankrupt. At the State or Federal government level, government never cuts back on anything, so funds for debt repayment are appropriated through taxation.
Winston Churchill said,
“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”Recently President Obama announced that the national debt is unsustainable. Even more recently Vice President Biden told Meet the Press that "everyone guessed wrong" on the impact of the stimulus and that the economy was worse off than anyone thought. Say it ain’t so, Joe! Everyone guessed wrong? EVERYONE? You’re surrounded with so called experts in the field of government spending. You guys already knew that Americans’ wages had decreased by nearly two per cent in 2008, long before Obama took office. But your administration, run by the Community Organizer in Chief, still continues to spend ... a billion here, ten billion there. Your administration tripled the deficit in your first three months in office. At the current spending level, you will saddled us with over ten trillion dollars in deficits by the end of Obama’s second term if he doesn’t get nationalized healthcare. If he does get it, the debt will exceed thirteen trillion dollars.
When my children were teenagers I noticed that they had no sense of future. By that I mean that, unless I intervened, every decision they made and every action that they took was for the moment. There was no consideration for the consequences of their actions. It was as if they were thinking, “I don’t know what the future holds, so I’ll deal with the results of this decision if and when I am forced to.”
The sage said, “Train up a child in the way he should go and when his is old he will not depart from it.” So we, as parents, work hard to train our children to think about the consequences of their actions. Don’t touch the paint to see if it is dry. Put half of your allowance away for a rainy day. Save up for that new car before you buy it.
Our government is spending like the kid in a candy store, with his entire allowance in his pocket. Except this kid, Obama, lacking the maturity and self control that an American President requires, is spending much more than his allowance. His attitude is like so many immature people: “I want it now and to hell with the payments.”
Obama and the progressives in Congress are spending our future kids’ and our grandkids’ allowances. I have to draw the conclusion that, like so many teenagers, Obama and his crew have no sense of future and are incapable of governing like responsible adults. They will never be qualified to govern until the adults show up and say, “No, you can’t have that.”
If only there was a stern parent nearby to slap the fingers of the kid touching the wet paint and demand that he put some of his allowance away for a rainy day.
The voters need to be the adults in the room.
The voters need to do the slapping.
Four years of the kid stuff will be quite enough, thank you.