Of the Pyrrhic sort.
national debt
Since the election was called for Obama several hours ago, I've been doing a little research on the national debt, the most pressing issue facing our country and the next term of the President. I won't give links or explain my math - I'm tired from the tension of following the returns, plus if you want to double-check the figures, you can look 'em up yourself, but from what I could find out, each single U.S. citizen owes over $50 thousand as our share of the national debt.
That figure is staggering, but the figure that's alarming is that Americans under the age of 18 inherit over 200 thousand as their share of the national debt.
That's what's so distressing about the election results. I saw people gloating over Obama's win, but I don't think they realize the implications. I'm not saying a Romney presidency would've been any better; he has a history of being a big govt. politician, too.
I wouldn't have been overjoyed if Romney had won; to me, he was the lesser of two evils. I don't understand the celebrating, esp. by those people with children. Thanks to the last half-dozen presidents (actually more than that), we've saddled the next several generations w/ a mountain of debt and if Obama's first term is any indication, it will only get worse.
The National Debt has continued to increase an average of $3.86 billion per day. Let that sink in; nearly four billion a day increase. (or will be four billion very soon) Listening to a radio show just now, I heard that our debt is over 30% more than Greece's...and they're on the verge of collapse.
The only way to even begin digging our way out of this crushing debt is by raising taxes...not just on the rich, but on the main body of taxpayers, the middle class. Sure, corporations can have (and probably will have) their taxes raised, but anyone with even the most basic understanding of economics should know that cost is passed along to the consumer. From there it becomes a vicious circle - taxes go up, prices go up, the consumer has less money to spend on other things, other industries suffer, etc. and so forth.
Just raising taxes won't cut it, however. The military budget can be cut, but I don't see that helping much, so...that leaves only benefits to be pared and who thinks that will be done? History shows it won't. So, that puts the burden on the taxpayer and it will be impossible to retire this debt in ours or our children's lifetime...and in fact, the debt will even grow larger until our economy collapses.
So, celebrate while you can, "congratulations" on your "win". Eat, drink, and be merry, fiddle while Rome burns. The bar tab will come due sooner than you think.
I think I'll go on to bed. I'm sure the sun will come up tomorrow and the world won't end on Dec. 22.* I just hope my country can survive the people we've elected and the fools that elect them.
What I'm really afraid of is when the Chinese come to collect on the I.O.U.'s we've been giving them.
*Edit to add: That's the Mayan calendar date the world is supposed to end. The official Inauguration Day is January 20th. However, as that date falls on a Sunday in 2013, the public swearing-in ceremony will be held on Monday, January 21, 2013.
Sorry for any confusion. I just woke up after a few hours of fitful sleep. I thought I'd feel better after resting. I don't.
national debt
That figure is staggering, but the figure that's alarming is that Americans under the age of 18 inherit over 200 thousand as their share of the national debt.
That's what's so distressing about the election results. I saw people gloating over Obama's win, but I don't think they realize the implications. I'm not saying a Romney presidency would've been any better; he has a history of being a big govt. politician, too.
I wouldn't have been overjoyed if Romney had won; to me, he was the lesser of two evils. I don't understand the celebrating, esp. by those people with children. Thanks to the last half-dozen presidents (actually more than that), we've saddled the next several generations w/ a mountain of debt and if Obama's first term is any indication, it will only get worse.
The National Debt has continued to increase an average of $3.86 billion per day. Let that sink in; nearly four billion a day increase. (or will be four billion very soon) Listening to a radio show just now, I heard that our debt is over 30% more than Greece's...and they're on the verge of collapse.
The only way to even begin digging our way out of this crushing debt is by raising taxes...not just on the rich, but on the main body of taxpayers, the middle class. Sure, corporations can have (and probably will have) their taxes raised, but anyone with even the most basic understanding of economics should know that cost is passed along to the consumer. From there it becomes a vicious circle - taxes go up, prices go up, the consumer has less money to spend on other things, other industries suffer, etc. and so forth.
Just raising taxes won't cut it, however. The military budget can be cut, but I don't see that helping much, so...that leaves only benefits to be pared and who thinks that will be done? History shows it won't. So, that puts the burden on the taxpayer and it will be impossible to retire this debt in ours or our children's lifetime...and in fact, the debt will even grow larger until our economy collapses.
So, celebrate while you can, "congratulations" on your "win". Eat, drink, and be merry, fiddle while Rome burns. The bar tab will come due sooner than you think.
I think I'll go on to bed. I'm sure the sun will come up tomorrow and the world won't end on Dec. 22.* I just hope my country can survive the people we've elected and the fools that elect them.
What I'm really afraid of is when the Chinese come to collect on the I.O.U.'s we've been giving them.
*Edit to add: That's the Mayan calendar date the world is supposed to end. The official Inauguration Day is January 20th. However, as that date falls on a Sunday in 2013, the public swearing-in ceremony will be held on Monday, January 21, 2013.
Sorry for any confusion. I just woke up after a few hours of fitful sleep. I thought I'd feel better after resting. I don't.
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