Growing up as a child I picked up a few useful life tips that helped shape the person I am today.
They were simple, some would say common sense things such as hot things burn skin, loud things hurt ears and alcoholic things… well they do all sorts of things that I don’t have time to go into here.
Around the age of 17 I also figured out that it’s not smart to buy things you can’t afford, especially when you have a part-time student job in a low-paying retail outlet and an unhealthy obsession with expensive consumer electronics.
In retrospect, as a teenager I could probably be forgiven for having run up a few grand on a Visa card. But when the Federal Government - which is supposed to consist of some of the greatest minds in the country - announces a record budget deficit of $482 billion, I find it slightly trickier to forgive and forget.
That’s exactly what was announced last week when Jim Nussle, the White House Budget Director, told reporters that George W. Bush’s successor could expect to inherit the credit card bill from hell. Let’s hope the Feds signed up for a good points reward program (does that mean every American will be receiving a free toaster or travel alarm clock in the mail?).
When the elected government displays such a staggering inability to control how it spends your - our - money, it becomes crystal clear how broken our system is.
Ron Paul has been one of the very few voices of fiscal reason to speak out about the reckless spending by politicians who clearly have no plan to put away the plastic. More money for an illegal foreign war? Sure, stick it on our People’s Republic of China Credit Card. Need a few billion to prop up irresponsible home lenders who played the roulette wheel and lost? Here’s a few billion that our buddy Ben Bernanke printed fresh from the presses yesterday. Don’t worry about the falling rate of the dollar - it’s really not THAT important.
Ron Paul is the only Congressman and former Presidential candidate who is actually looking out for ordinary Americans and wants to reign in this boom, bust and bail-out form of castrated capitalism.
As Ron points out, the way to deal with this problem is to:
- End the war in Iraq and stop pouring billions of dollars into this endless conflict
- Stop printing money whenever we need to prop-up another reckless bank or mortgage lender
- End the “buy now, pay later” mentality that exists throughout Washington
- Cut back government spending and liberate millions of Americans by letting them keep more of their own money
America faces a number of challenges in the coming months and years. We need to focus on solutions, and end the culture of Las Vegas party-time economics. After all, we all know who eventually picks up the tab.