Quit rearranging the deck chairs on the Titanic: Change course BEFORE we crash into the iceberg
Mea Culpa: I am not an economist, politician, or intellectual - I am a small businessman and was an accountant in my early career. I can read and understand financial statements and projections and that tells me all I need to know. That is why I started Main Street Economics.
I love this country and want more than anything for it to succeed long term for my kids, grandkids and all future generations. They should have the same opportunities I had.
NOT HAPPENING!!!
I have studied the data and it is ugly – you have seen that in my past analysis. We are destroying this country with our ridiculous out of control spending, deficits and mounting debts, now $35 trillion dollars and growing rapidly to $55+ trillion in 10 years on our current course. That doesn't even include $79 trillion dollars in Unfunded Liabilities for Social Security and Medicare plus other assorted liabilities.
The government spends recklessly and borrows endlessly - with no means to pay it back, other than borrowing more money. That is a Ponzi scheme that will end in disaster one day – all such schemes crash sooner or later – we are not immune, even if you think we are. The fools who believe in Modern Monetary Theory (we can borrow endlessly with no harmful effects) are idiots with no common sense.
In my weekly emails I have explained what works in the real world (#139, Learning Economics from the Real World), (#159, Real World Economics Tell Us a Lot) and what it will take to fix it ( #140: SOS: Our Ship of State is in Trouble (with a capital T).
The folks in DC pay no heed, just keep on spending like the proverbial drunken sailor. (As President Reagan used to quip, that is an insult to the sailor, at least he was spending his own money.) And they pat themselves on the back and celebrate when they reduce the deficit by 100 billion dollars per year when that is just a pittance to what is needed. That is literally rearranging the deck chairs on the Titanic, just before we crash and burn.
The American public pays no heed, we just assume that big, strong America is somehow immune to bad economics. We are not. Complacency will destroy this country.
So, if neither DC or the public is concerned, then we will keep on keeping on – until we crash into the iceberg – and then it is too late.
BOTTOM LINE
Folks, it is no longer a question of IF we will crash and sink, it is only a question of WHEN this will happen - if we stay on the current course.
My message to you: Don’t be complacent, be concerned. Learn the issues – you will be alarmed at what you see. And TAKE ACTION. Shout out to your representatives to Fix This Mess, NOW. There are many ways, one easy one: go to our website and Contact Congress. It will take less than one minute.
If your representatives don't ‘get it’, then vote for someone who does.
LEARN ECONOMICS, THEN VOTE SMART
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