While I do not disagree at all that the financial house of our beloved USA is in critical condition, I feel more than a little uneasy that the only logicsl solution is to take a machete (or a meat axe) to expenditures. Why? Because the evidence has bceome overwhelming that our government runs exclusively anymore on the Golden Rule: "He who has the gold rules." Our politicians all are dependent on big individual donors and huge corporations, which leaves the average citizen out in the cold with little or any serious representation. The result? The first target of "meat axe" fiscal strategists is to eliminate or eviscerate the "entitlements" that working class and worse off Americans need desperately to keep their heads above water. Let's get really serious about a solution, then. Let's look at the necessity for perpetuating tax breaks for the super rich, for corporate welfare for fat cat corporations that downsize U.S. workers and open off-shore subsidiaries to avoid paying federal income tax, and for giving tacit approval to the millions of citizens and businesses that use their creative imaginations to literally "rip off" hundreds of millions of dollars each year from various government programs. And - of course - the military industrial complex and its contractor vendors ought to go under the microscope as well. We might be amazed to discover that the U.S. isn't really broke, that we can truly afford to preserve Social Security, Medicare and Medicaid for eligible people, and that we still can afford to put Americans to work at decent jobs that pay livable wages and protected benefits while at the same time manufacturing things and building and repairing bridges, roads, and other infrastructure needs that preserve our nation's stature as a world class country with a strong moral commitment to humankind.
ARMAGEDDON
Categories: Debt Management Family & Money
So where's the end of the world?
No, we're not asking about the 6pm "deadline" that came and went on Saturday, the 21st.
We are asking about the one-week birthday of the U.S. Government crashing into the debt ceiling.
The Secretary of the Treasury, Tim Geithner, has said he will now have to make very difficult decisions to keep the country solvent.
Pardon us for laughing...but a country that is already bowing under $14.3 trillion dollars of debt is INSOLVENT, my friend.
And, if Mr. G's only means of staying afloat is to suspend payments to federal government retirement plans until August 2nd, we are, indeed, financial toast.
How about deep-sixing the myriad of duplicate governmental departments instead?
That would indicate, at least, some seriousness about reigning in spending and confronting our fiscal problems.
But nooooooo!
The current powers-that-be prefer to use a scalpel when a machete - or two - is called for.
Thomas Jefferson said, "To preserve our independence, we must not let our rulers load us with perpetual debt."
Looking at the mess that our collective rulers have heaped on us, it's a wonder that the Jefferson Memorial hasn't collapsed into a pile of rubble under the weight of fiscal irresponsibility by our elected reps in DC that Jefferson said we should avoid.
NO ONE in Congress appears equipped with the cajones to really stand tall and make the truly difficult, but, ultimately necessary cuts that we need.
It's much easier to demonize the other side and drag the fiscal blood letting out in perpetuity.
Unfortunately, the body eventually runs out of blood and dies.
You can't continue the game forever.
Prepare yourself for the severe belt-tightening that is to come.
That means you, unlike the government, MUST get out of debt...NOW.
Although a biblical Armageddon might be followed by a "rapture"... our fiscal Armageddon will only be followed by a "rupture" of the comfortable life we have had here.
Read More In: Debt Management Family & Money
Ken and Daria Dolan have hosted their own national radio program for 22 years, anchored their own television shows on CNN, authored six books on money matters, served as money contributors on CBS This Morning and have now launched a comprehensive web site and free e-letter at Dolans.com.
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