As the country moves past $10 trillion in debt, is there a limit? Is it possible for the government to go under? Since China seems to be the main creditor for us, what are the consequences of not paying them back? One thing is for sure, I don’t trust the government economists and Wall Street analysts to have the answers.
Being a main street guy I honestly don’t have a clue about our economic future. We are certainly playing where we have never been before. As the experts wax on and on I have developed a few fears and dislikes to ponder.
I don’t like the attacks on capitalism. Capitalism may be tainted by greed and abuse, but it is the main reason we are the greatest nation on earth. I visited some Communists countries in the past, they were marked by empty shelves in their stores and no economic choices. No thanks! I like choosing between 50 different kinds of cereal.
The liberals read the economic times and tell us we need to live on less. The good old days are gone. They almost say it with glee. I fear they want the government to be the economy and we will serve it. It their minds this will pave the way for universal healthcare, elimination of poverty, and solve a host of social problems. I don’t know if the country can go bankrupt or not but it will lead trap free Americans into a position of servitude. I believe the government should serve the people, not the other way around.
I also worry about the costs of environmental politics (global warming, climate change). Cap and Trade and other suggested policies will cripple the free market, take control of a greater chunk of each American life, and make us submit to global authorities.
Our Ivy League leaders believe that the average American is stupid and needs a strong federal government to provide our basic needs. I fear they may be right. We were stupid enough to vote for big government in the last election. We no longer feel as Thomas Jefferson who said, “The government that governs least, governs best.” He could not be elected today.
I don’t know if we can go bankrupt economically as a nation, but we can be bankrupt in our spirit. Our country conquered it’s challenges in the past with rugged individualism, free markets, and a willingness to fight for what we believe in. Today the focus is on collectivism (society over individual), markets controlled by government, and fighting wars where no one gets hurt.
Ronald Reagan declared “government is not the solution; government is the problem.” He’s another guy that could not be elected now.
Here is a novel idea. Let’s create jobs from our own ideas and work like hell to produce more and better stuff. Let’s pay for the things we need, including healthcare. Let’s pay a fair tax to provide essential government services. Let’s elect people who are most concerned with protecting individual freedoms, threats from abroad, and national sovereignty. Let the government focus on protecting freedom rather than controlling lives.
The American spirit is our solution, not China.
Tags: bankruptcy, capitalism, debt, Economy