Scan the political spectrum for opinions about money and you will find quite a wide range. At one end is the traditional conservative ideal of individual responsibility and hard work. At the other is the progressive and socialist ideologies endorsing “community” aid in one form or another. Sadly, neither is very viable these days.
Knowledge Isn’t the Problem
The problem with the socialist agenda, aside from its inherent immorality, is the fact that it doesn’t work. Period. Unfortunately, while many denounce socialist ideals, they are no more responsible when it comes to managing this country’s financial health. Some try to place the blame on capitalism but that isn’t the problem. The Problem With Capitalism is not Capitalism.
The primary problem with this nation’s financial situation is politicians. And, no amount of finger-pointing across party lines can let anyone off the hook. Republican or Democrat, conservative or liberal, those holding the purse strings have been consistently irresponsible. They have also consistently obfuscated, diverted and outright lied about the severity of government debt.
This situation is not for lack of knowledge, or access to such knowledge. Study after study has been published for years sounding the alarm about the growing threat of disaster due to our ill-advised financial policies. It’s almost as if our leaders (using the term loosely) respond to warnings with inverse exploits. Rather than respond responsibly, they double down, expecting the masses to cheer them on or to miss entirely what they are doing.
Sadly, for the most part, that is what we do. Those with a vested interest in one program or another applaud it, regardless of how foolhardy it may be. Many are simply ignorant, devoid of any understanding of, or even any interest in, fiscal matters.This situation is not for lack of knowledge, or access to such knowledge. Study after study has been published for years sounding the alarm about the growing threat of disaster due to our ill-advised financial policies. Click To Tweet
Debt Reduction a Thing of the Past
Sure, we may occasionally complain about taxes, or the prices of certain commodities. But, we don’t know enough to see the connection between what government has been doing and the consequences. It gets worse. For those who are paying attention, who do see the big picture, any potential for relief personally is limited.
The tentacles of government action in commerce, regulations, the money supply, taxation, you name it, reach so far and so deep, that any remedy requires staunch and painful efforts. There are plenty of ways to attack the problem but those with the power seem to lack either the fortitude or the interest or both.
“American leaders used to know how to reduce debt. Debt spiked during every war over the past 230 years but was always paid down afterwards. After the Civil War, for example, the government ran surpluses 28 years in a row, causing debt to plunge from 31 percent of GDP down to just 7 percent.
“Today we are at peace yet the debt is soaring. The profligacy is so scary because our leaders don’t seem to have the guts to make tough spending decisions like Canada did. We’re marching into a fiscal crisis and few of our leaders seem to care about debt or know how to tackle it.”
Read more at Marching to a Federal Debt Crisis.