Monday, July 18, 2011

debt ceiling

When you start a blog, you are supposed to pick one "topic" and go with it. Unfortunately I have so many topics floating around in my head, you get a variety :-) I don't really want this to be a political blog, but sometimes I just need to vent, and I figure my blog is the perfect place. Sorry if I offend anyone!

I am so absolutely frustrated about all this debt ceiling talk. I get that we have obligations that we need to meet. I think what bothers me is that no one talks about the fact that every day the government continues to collect taxes. So even though we may not collect enough taxes to pay every. single. thing. it isn't like we have suddenly gone completely broke and can pay NOTHING, which is what the media seems to want the public to think. I would like to see a breakdown of what we bring in vs. what we pay out. I'm sure I can find all this online, but it would be nice if the people in charge would talk about those things during news conferences, instead of all the backbiting. And maybe we should think about not paying the senators/representatives/president/vice president...maybe those should all be volunteer positions, then let's see how much is accomplished.

I am frustrated that the president and vice president were adamantly opposed to raising the debt ceiling when there was a republican president (I didn't agree with it then either, by the way) by saying that it was a leadership failure. I am frustrated to see that the government is using my money unwisely. Not just my money, but the money that my babes will be paying into the government system at some point as well. Why is it that I have to stay within a budget to make sure I can heat my house and put food on the table, but the government cannot be responsible enough to take my money and only use what is collected to pay "obligations." Why should they be able to promise that in 10 years they will pay for x, y, z?

Shouldn't the government be held to the same budget constraints as every other American citizen? I understand that we would have to have DRASTIC cuts in order to fit the budget that we have money to finance, but it is only right. It isn't like when I run out of money I can just call up China and say "here are some Townsend House bonds, can we borrow that money, we'll pay you back...at some point...even though we will probably borrow more from you to pay the interest." It just seems absolutely ridiculous!

At what point will the United States of America be Greece, or Italy? At some point China is going to decide to not finance us anymore, and at some point they are going to demand their debt be paid in full. Then what? Who is going to bail out the US government? Who is going to finance us when the dollar is no longer a viable currency?

Maybe I am completely overreacting. In fact, I hope that is the case, because I am seriously concerned about the state of our nation. The only reason we were able to pull out of the Great Depression was because of WWII. We are already in 2 wars currently, 3 if you count Libya (which no one seems to be talking about anymore, even though it has been 4 months), and we are still at 9% unemployment, and really that is more like 19%. How are we going to actually pull of the "Great Recession," when we continue to borrow from foreign investors. At what point does that borrowing stop?

I get that people want to continue to be elected, but I don't believe that our country was founded and organized so that people could have a career in politics. I believe that our country was founded in order to provide a good FREE life to all citizens, which is not at all the case anymore. We are so riddled with debt, and people don't have any concept of this amount of money, that it seems ok and perhaps imaginary. At some point soon, we are ALL going to have to face the reality of this debt. And then what? How will we be able to come back from this? What industry do we have now that can produce the amount of income we need to change our course? I don't see anything.

If you have any thoughts, I would love to hear them, because it is extremely depressing to read/watch the news these days. Thanks for letting me vent!

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