Curmudgeon's Corner

cur-mud-geon: anyone who hates hypocrisy and pretense and has the temerity to say so; anyone with the habit of pointing out unpleasant facts in an engaging and humorous manner

Are We the Next Europe?

U.S., Taxes, Economy, Political, Quality of Life

Our country has added more debt in the first term of President Obama than was added in all the terms of all the presidents before him.  We threaten to ‘stimulate’ ourselves into long-term debt problems the likes of those Europe experiences today.

A New York Times article today was headlined: Austerity turns Europe restive and discussed the protests that continue to escalate throughout Europe as it struggles to get its debt under control, while the people demonstrate because their government benefits are threatened to be further reduced.

We seem to have the naïve belief that these immutable laws simply do not apply to us.  Europe has problems but we’ll never have those problems because we are us.  That makes a lot of sense, doesn’t it?  We have become an ‘Ostrich’ country; we bury our collective heads in the sand to avoid that which we do not wish to acknowledge might destroy us.  Like the child closing its eyes, if we can’t see it then it doesn’t exist.

Those who cry out against this continued piling up of debt, owed largely to China at this point since no other country has the wherewithal to keep funding us by buying our bonds, are derided as being alarmists.   Rep. Paul Ryan (R-WI) is assailed when he produces a budget that is balanced, because his budget has some semblance of reasonableness in that it recognizes we can’t continue to spend what we don’t have.  His budget actually would reduce our spending.  That is obviously just pure nonsense to other of our elected elites.  After all, they gain re-election by continuing to ship money for this and that into their districts and states.  They continue to take from those who still have more…to distribute to those who do not have as much, never seemingly giving thought to the fact they are throttling the goose.

Our current ruling party today would much rather just pass one continuing spending bill after another.  There is obviously no need to establish a budget and take the hits that might come from actually taking a position.  After all, we are still functioning are we not?

If we do not soon come to understand that we must begin to act the part of the adults that we supposedly are, there will be a payment extracted that will be most unpleasant.  We will get to be more and more like Europe.  We will see unemployment rising rather than falling.  We will see home values decline rather than increase.  Our tax rates will stifle any hope of a rising economy, and we’ll still have the same problems that Europe has today.  There is no Aladdin’s lamp to be rubbed over some incantation that will magically solve the problems we have created and continue to create.

We’re spending our way into bankruptcy as a country, and we seem not to care.

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