Saturday, May 03, 2008

Why The Federal Debt Drives Us Bananas, And Why "Baby With The Bathwater" Revolutionaries Must Love It

We get a lot of questions about why we are so concerned with federal spending/debt. This Saturday morning post is a quick response to those emails and conversations:

The Federal Government's financial books are a joke. But not the "ha-ha" kind.

Noted: Watch Walker, David on 60 Minutes. And then watch it again.

We agree with Mr. Walker that America's debt is the #1 national security threat facing us right now. Period. End of story.

And it drives us absolutely bananas that politicians who we gift 30 cents on our earned dollar to "represent our interests" in Congress just keep spending and borrowing this country right off a cliff.

Read Peterson, Pete. Then read him again.

Our $10 trillion dollar debt is a different type of problem than any Washington has faced in the past. It eats at us from the inside out (as opposed to the outside in). It colors everything that this country does (or is forced to do).

We are a debtor nation. (if The Nation isn't your cup of tea at least note the part in the article about super capitalist Warren Buffett). A debtor nation! Like 3rd world countries. And how "stable" can that really be?

Put simply, America's current financial status quo will not hold. It can't. And if changes are not made, and made quickly, the whole pyramid scheme is going to come crashing down around our heads.

If this is allowed to happen, Washington's failure to act now will be considered the greatest example of governing malpractice that this country has ever seen.

Believe. It.

And while the "after the fall mess" won't be fun for us (or the rest of our global village), it will be great for people like true believers (nuts) of Sergey Genadievich Nechayev's The Revolutionary Catechism, who will find plenty of new grist for their mill to try to start a new global revolution with.

And then where will we be?

In serious, serious trouble.

We're just saying.