The Observation Deck

Though I know our Federal debt is a huge problem, I didn’t think of it this way and I will give credit where credit is due….

Let’s say your next-door neighbor had $27,000 in yearly family income, but spent $37,000 a year, and had already run up a $170,000 on their credit cards. A family that by the way has saved nothing for retirement and for future health care obligations. And now they wanted you to lend them more money at an interest rate that only the Federal government enjoys, maybe around 2%….

Would you do it? I thought not.

Now, if you add eight zeros (!) to all the numbers above, you’d BE the Federal government, horribly indebted, but demanding more and more.

Why do we put up with this? Why are we rooting for a “compromise” that will raise the debt ceiling? Because we do not understand the magnitude of the problem, that’s why. Nobody has explained it in simple enough terms.

Well there you have it, simply explained. It’s your choice whether to encourage this madness to continue, or to start recognizing the bind we are in and insist that we reverse course.

Adapted from: http://market-ticker.org/akcs-www?post=225061

Tim,

If we really started cutting where we needed to there would be rioting in the streets, just see my recent post about food stamps. The problem is the elected officials keep promising more freebies to more voters. There are less and less workers to tax to pay for it and so we get into more and more debt.

The end is coming, and it isn't going to be pretty. Be prepared

Escalating deficits are endemic to Reaganomics and the new Free Trade deals.
http://www.goodreads.com/book/show/8676 ... earch=true

Escalating deficits are endemic to Reaganomics and the new Free Trade deals.
http://www.goodreads.com/book/show/1088 ... earch=true

Ryan Salo wrote:Tim,

If we really started cutting where we needed to there would be rioting in the streets, just see my recent post about food stamps. The problem is the elected officials keep promising more freebies to more voters.

I'm reminded of a short speech from John Wayne's McLintock!. It is given by Wayne to a government panel who is seeking to move a tribe of Comanche Indians from their reservation to Fort Sill.

We are an old people and a proud people. When the White Man first came among us, we were as many as the grasses of the prairie. Now we are few, but we are still proud. For if a man lose his pride in manhood, he is nothing. You tell us now that if we will let you send us away to this place called Fort Sill, you will feed us and care for us. Let us tell you this: It is a Comanche law that no chief ever eats unless first he sees that the pots are full of meat in the lodges of the widows and orphans. It is the Comanche way of life. This that the White Man calls charity is a fine thing for widows and orphans, but no warrior can accept it, for if he does, he is no longer a man and when he is no longer a man, he is nothing and better off dead. You say to the Comanche, "You are widows and orphans. You are not men." And we the Comanches say we would rather be dead. It will not be a remembered fight when you kill us, because we are few now and have few weapons, but we will fight, and we will die Comanche.

As for the debt ceiling, it is not a problem, it is a symptom of a problem.

I have joked in the past about running for Congress...that I would sooner run against Kucinich than vote for him (that goes for Kaptur as well). I would be unelectable, though, especially in this district.
I wouldn't bring home much, if any, pork.
I haven't got the name recognition.
I won't play by party rules.
My common sense ideas aren't terribly common and definitely wouldn't be popular.

don't over estimate yourself Roy.