Friday, September 16, 2005

Why America is Going Broke

Is there a more ethereal discussion you and I can have? Most of us can't make the connection between the well-being of our families and the U.S. Government's deficit spending, fueling the national debt. The numbers are too big. The solution involves pain. There's too many cogs in the deficit machine for us to understand. We feel powerless to do anything.

For all its blessings, this is the curse of democracy: politicians buy votes by borrowing from your future. Osama Bin Laden knows this -- his grand scheme for destroying America isn't to kill lots of American's in burning buildings or in wars. His plan has to be to provoke America into deficit spending, overreacting, over reaching, over promising. He wants to reveal that the emporer has no clothes, and he will do this by provoking America into spending itself into its grave. One day, the deficit money machine will break, and our American dream lifestyle will come to an end. Some day, the foreign investors who are loaning us money to finance our spending spree will want to live the good life themselves -- when that money stops flowing into the U.S., the machine will break.

The best article I've read on this problem in a long time is posted here. It's written from a Canadian perspective, looking after their own national interests.

What the hell is George Bush doing? It seems that he will not rest until America is broke. He doesn't explain how America is going to pay for the two wars it is fighting and now embark on the biggest "reconstruction project that the world has ever seen." I love New Orleans, and I lived there for years -- but how can we invest in rebuilding a city that is still vulnerable to hurricanes, that sits on sinking ground, below sea level, in a marsh that is disappearing into the sea?

The New Orleans rebuilding effort will only accellerate our debt. How big is the debt? Click here to find out.

Here's some other bell ringers in the blogosphere:

What are you thoughts?

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