You and I are in debt, my fellow Americans, big, probably non-repayable debt.
Do you know how much? Our beloved country has debt in excess of:
$19 TRILLION
That is trillions with a T. It is a debt amount so staggering I dare say no American, not the very best economist, not even the GAO (Government Accounting Office) or the OMB (Office of Management and Budget) can accurately compute or understand. What it does mean is that every American citizen, man, woman and child is in debt now and forevermore TENS OF THOUSANDS OF DOLLARS and growing every year. We seem unconcerned, we apathetic Americans do, probably because the government (is it really ours) never sends any of us a bill for our fair share, our pro rata part of that inconceivable American debt. We have become accustomed to the debt being the federal government’s problem, and consequently not ours. They our rulers will figure out how to pay some portion thereof, manage the rest with high interest rates, charge it off to the future (kick the can down the road) or worst of all, PRINT MONEY, more money and bring on the risk of INFLATION, real, significant inflation, like Germany faced before the Second World War which would be disastrous for America. Look at your children, just born and college age and think of them as debters, debt beyond their imagination when they are adults and ready for the payback of the money we have squandered. Have them, those you love, get ready to pay incredible taxes, perhaps higher than ever before which will sabotage their future, mortgage their opportunity and forever keep them in that debt because it will never really be repaid.
And, get ready for higher taxes, my fellow Americans. Much higher taxes, depending upon the elections, President, Senate and House. If the Democrats win the Presidency, either Clinton or Sanders, taxes will rise dramatically if in fact the Democrats can regain control of the Senate and create a much stronger influence in the House of Representatives. Even if the Republicans are elected, Trump, or Cruz or Rubio, there will be higher taxes no matter what they say, lesser lifestyle, more government and more money used to repay the debt of the distant past and pay for the ever-growing needs of the American citizenry. If the Republicans are elected and control, America will have SOCIALISM-LITE but much more things socialistic than ever before. If the Democrats are elected, we will have real and permanent socialism which, in the opinion of so many experts, will radically and permanently change the course, direction and lifestyle of our country, moving to the next level of the radical and disastrous OBAMA CHANGE. Think of that between now and November when you decide to vote or more importantly, when you decide NOT to vote. Think about the words of philosopher-theologian Dietrich Bonhoeffer who said:
NOT TO ACT IS TO ACT
Our federal government increases that national debt every year. The DEFICITS of our country’s spending, our federal spending grows each and every year with or without a budget. Our President and our Congress tell us that they carefully chart out the SPENDING of our country, our federal government, international, national and local and prepare a budget which the vast majority of Americans ignore or do not understand, ram it through the political processes, pass it, and watch the calculations, the estimations, the so-called SCORING of the legislative intent and the legislation go off target Day One. It is extremely difficult to pass new taxes to pay for new deficits so that any deficit is merely added to the ever-growing and astronomical FEDERAL DEBT. One economist called it ECONOMIC CANCER where new economic cancer cells (the current deficit) are added to the old (the total national debt) and the cancer increases without remission until that ECONOMIC CANCER becomes fatal. Then, the economy of that negligent country collapses, rampant inflation occurs (i.e. Germany-1930), money is printed on worthless paper, prices go sky high, savings are wiped out and social chaos occurs. That possibility for America, is now in sight and surely possible, many economists believe. We the people are addicted. We simply can not control our urge for spending nor can our representatives. No matter the cost, if the want or need is apparent, or the majority of us want that, or our WASHINGTON RULERS want that, it happens no matter the economic ramifications. Remember that, American parents or grandparents, the next time you look into the innocent eyes of a child, your child. That child will never know the America you once knew. NEVER.
Congress, House and Senate, know their spending addiction. Some try economic controls while others resist. Some Senators and representatives really do want America to stop lavish and exorbitant spending but unfortunately, most do not. In fact, Congress realizes that it can not control itself. Therefore, it passed legislation which called for SEQUESTER. That is an automatic process, not subject to vote or political influence whereby every item of the budget as originally passed would be reduced proportionately or pro rata, as a percentage of the newly increased current deficits added to the permanent debt. They told us, our rulers who long since cease to be representatives, that they can not control themselves, their spending and therefore, an automatic economic process must be implemented to effectuate the controls and the restraint of which they were unable. What a sad and tragic day for us, for we the people now and those who come after us. Our descendants will never know the America we have and they will be saddled with debt like a citizenry perhaps never before in history. We the people indeed are a real part of the problem. We are indifferent, apathetic, unwilling to study, unwilling to demand restraint, having lost input and influence over our representatives and the problem exacerbates. We the people are like Nero fiddling on the balcony of his palace while Rome burned. We just simply won’t pay the price for it is too hard, too difficult and requires a very serious moral commitment to democracy which requires far too much time, effort and money. So, back to Starbucks we go.
Bernie Sanders would increase the top income rate to 54% (now 39%). Sanders would tax capital gain and dividends as ordinary income (up to 54%) wiping out that much more of the private economy. Clinton would dramatically increase the tax rate top to bottom, perhaps not as high as Sanders but if she is elected, she will do everything in her power to increase the tax rates and consequently federal spending. Trump has admitted that he will raise taxes in some areas while lowering them in others. It is really unclear what that man as President will do or for that matter, in some economic areas what he really thinks. Cruz seems flat tax oriented, believes in VAT (Value Added Tax which affects business and the products and services it produces), among others. Little is known of Rubio’s current thinking for he has “dropped out of the race,” subject to what might happen at an open Republican convention. Whoever is elected President, we the people can be almost certain that we will be paying more taxes, not just the rich or the wealthy, but everybody including the so-called middle class and even those below. The only other choice is more debt which economists think in 7-10 years will be an absolute disaster for America. More sobering thoughts to share with your little children, don’t you think?
Warren Buffett, the $50 billionaire said the following:
“I could end the budget deficit in five minutes. You just pass a law that says that any time there is a deficit of more than 3% of GDP (Gross Domestic Product), all sitting members of Congress are ineligible for reelection.”
What a great idea. If you the representative can not control spending and you add to this monstrous debt and you economically lie to the American people, you can not by Constitutional Amendment be reelected to Congress, House or Senate. That would force the career politicians to pay attention to business, don’t you think? Fat chance that will ever happen.
But Buffett goes on to remind us of the following:
“The 26th Amendment (granting the right to vote for 18 year olds) took only 3 months and 8 days to be ratified and become part of our Constitution. WHY? Simple! The people demanded it.”
Let me repeat the last part of Buffett’s statement:
THE PEOPLE DEMANDED IT!
But we the people have no intention of demanding a Constitutional Amendment like Buffett recommends for we are indifferent, apathetic and controlled by so many political forces federal, state and local that we have been unempowered, divorced from political realities and consequently unenergetic or withdrawn from our civic duties and opportunities as citizens. Our Ruling Political Class know we won’t demand of state legislatures that such an Amendment pass and so they go their merry way doing the same old thing to the ruination of the American economy. What a tragedy, a terrible tragedy!
Buffett goes on, along with so many others, to recommend the following.
No congressman should have tenure of any kind. No congressman should have a pension of any kind. A congressperson privileged to serve our country collects a salary while in office and receives no pay, benefits or retirement income when out of office.
All members of Congress, past, present and future must participate in Social Security (they now don’t). All funds which are millions and millions of dollars in the Congressional Retirement Fund move to the social security system immediately. All such future funds flow into the social security system and Congress participates with the American people, benefits and liabilities for all.
Any and all funds in social security now and in the future can only be used for social security purposes and no other. Congress now repeatedly and aggressively appropriates social security monies for any political needs at any time.
Congress, says Buffett, should no longer be able to vote themselves a pay increase. Congressional pay will rise by the lower of CPI or 3%.
Congress loses their highly preferred and vastly superior (to us) current healthcare system and participates in the same healthcare system (ObamaCare) as the American people.
Congress, says Buffett, must equally abide by all laws they impose on the American people. They don’t in so many ways now.
WHAT DO YOU THINK?
Sounds awful good to me. Once elected, House and Senate members make the laws subject to Presidential approval or veto. We are done, no voice, no say. Our only control of our so-called representatives once elected is through the process of:
CONSTITUTIONAL AMENDMENTS
Which can control their actions once and for all. We can impeach them but that is highly impractical and virtually never occurs. We can vote them out at the next election but that takes time and so much harm can be done. We can stop contributions and funding to campaigns, which we should, but that will only influence the next election. The Constitutional Amendment process is the ultimate check and balance, the ultimate control, the ultimate protection of the Democratic process and the fundamental values and freedoms upon which our great country is built.
Wake up, my fellow citizens:
WAKE UP!
WE MUST DO MORE, much more. Congress spends our money, OUR MONEY. Not theirs, not the governments. THE MONEY OF WE THE PEOPLE! We would never, ever-ever spend our own personal money the way Congress spends our money. Not only is their overspending, but there is fraud, waste, preference, pork and so much else which adds BILLIONS of dollars to our debt and to our deficits. We know about these fraudulent processes in general but we take no time to find out specifically what they are (and that information is available) and we let the economic cancer spread. We have the most blessed God-given country and lifestyle in the history of mankind. We have a Republic built on Democratic principles and a Constitution, the finest document ever written, IF WE CAN KEEP THEM! We are doing one terrible job in protecting, defending and preserving our essential way of life, our freedoms including the oft taken for granted pursuit of life, liberty and happiness.
Wake up, my fellow Americans, WAKE UP! Time runs short. Trump and Sanders, outsiders to the political process, are political alarm clocks, the one asking you with him to MAKE AMERICA GREAT AGAIN and the other to move America deeper and perhaps permanently into socialism. Perhaps real choice, real differences, real changes have never been more available to WE THE PEOPLE.
Pay attention. Get involved. Study the issues and the candidates. Think as never before what YOU want America to be. If you don’t move to protect it, others will take it away from you. Don’t let that happen.
It’s your country, for now. Someday soon, it won’t be, a country left to children and grandchildren. Think about America as it is and how it will change in the next four years depending upon the outcome of the most critical elections America has ever faced! Think about that the next time you look in the eyes of your children and grandchildren.
WHAT KIND OF AMERICA WILL YOU LEAVE TO THEM?