January 18, 2013
The Debt Junkie
Here we go again; another fight over the debt ceiling. Didn't we just do this? As a matter of fact, yes. In fact, the debt ceiling has been raised 11 times since 2001. Simply put, this country has a serious spending problem, a problem that would bankrupt a normal household in no time flat.
Several cliches have been used to describe our addition to debt; kicking the can farther down the road, robbing Peter to pay Paul, etc. It's akin to maxing out a credit card, only to pay off the balance, plus interest, plus new purchases, on a new credit card. Over and over and over again. What pushes a household into bankruptcy? Owing more than one could ever hope to repay, right?
I envision this country as a 'debt junkie', searching high and low for its next fix. While what's needed is addiction rehabilitation, the junkie wants none of that. The junkie just needs its next fix. It will borrow (from foreign governments), steal (from the US taxpayer and several generations to come), and whore itself out for the next infusion of its drug (debt). It is a never-ending cycle that eventually leads to death. And our politicians, my friend, are the enablers of this junkie, continuing to feed it what it wants.
Is the US debt a Ponzi scheme? Let's see...it is dependent upon new money (in the form of new debt) to pay its older debts. Hmmm....sounds a whole lot like a Ponzi scheme. Will there come a point when there isn't enough new money to pay the older debts? Of course. Our federal prisons are filled with guys who did the same thing.
Spending cuts must be enacted. And not just by reducing the rate of growth of all these governmental agencies. Real cuts. All those 'non-essential' jobs the media talks about when faced with a federal furlough? Cut them. Yes, it will be painful. Yes, we will face inconveniences and will have to do without many things we currently take for granted. But really, how long can we kick the proverbial can down the road? As a father, I can't begin to imagine leaving my children with a debt so large they could never hope to repay it. Yet this is exactly what the debt junkie (our country) is doing to all the generations that follow.
And to continue with the cliches, the ones robbing Peter to pay Paul know they'll all be dead before the piper shows up to be paid. How ridiculously cruel. Still, the voting public continues to enable the enablers by reelecting them and sending them back to the debt junkie to give it its fix.
It's time for an intervention. Get the junkie into rehab. It's the only chance for survival.
Make it a great day,
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