America – Simply Running Out of Money
Nothing will explain the bias of the liberal mainstream media better than their collective silence on our ever increasing annual deficits and our national debt. It appears that the Democrats in Congress and President Obama recognize that the November elections might bring about changes that will end their reckless spending sprees and so they keep piling on with new social programs and governmental controls before their reign is up come January 2011. The national debt stands currently near thirteen trillion dollars and that is about ninety percent of GDP (Gross Domestic Product). This is absolutely unsustainable and warning bells should ring around the country twenty four hours a day, every day of the week.
What is most troubling about this reality is the fact that the combined obligations of entitlement programs such as Social Security, Medicare, Healthcare and so on are amounting to nearly one hundred trillion dollars. Add to this the financial obligations by most States and the picture becomes darker and darker with no hope in sight. It’s a nightmare as dark as a major tornado coming at you with the only thing not clearly known is the moment it will hit you. Even if the new Congress in January 2011 would be dedicated to getting spending under control, it would seem to be nearly impossible and we would have to keep on printing money we do not have. Raising taxes would not stimulate the economy and therefore would not remedy the problem.
Compare this situation to an average family that has been living for a while beyond their means and now faces financial ruin due to a variety of reasons, be it job loss or illness or something else. The family has to get down and make some tough decisions like moving out of the house that they can no longer afford; transferring to another area or even State to seek employment opportunities and of course, most effectively: tightening the proverbial belt whatever that might be. Many times, a family in such a situation can walk away from it by declaring bankruptcy (therewith being released from their financial debt and obligation). But in our opinion, the United States government does not have that option or does it? Can we wake up one morning to hear the President speak on television and declare: “I am sadly forced to announce, my fellow Americans, that we as a country have declared bankruptcy.” Can such a day become reality?
We most certainly hope not but what are the choices? We are simply running out of money right now, we are borrowing from foreign countries such as China and there will come a day soon when the Chinese will simply stop lending us money and what are we doing then? These are all serious questions and they need immediate attention and a strong effort to get answers so that we avoid such a disaster. A few weeks ago we posted an article about the financial disaster in Greece and we warned at the time that this ‘tragedy’ as we called it could befall us as well.
We here do not have the answer to the above questions but we can recommend one thing: Question the economists and other self-proclaimed financial experts about the future and why they think we can spend ourselves out of the economic recession by amassing trillions of dollars of debt? We hear and see these guys constantly on television and they assure us that it is possible but they never get asked to be specific as to the details of such a program. We doubt very much that they can explain this and until they do and can, we should stop using them as an excuse for continued spending sprees at the governmental levels.
Common Sense University knows one thing for sure, neither President Obama, Senate Leader Reid nor House Speaker Nancy Pelosi have the slightest clue about the financial dangers they lead this nation into. When asked, they refer to the ‘experts’ who tell them it’s alright to keep on spending money, meaning, we can spend ourselves out of the recession that President Bush and the Republicans brought upon America. All we can say is the blame falls on all of us if this country goes bankrupt due to the incompetent people we elected to be in charge of America.
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