TIME TO PULL THE RUG OUT OF THE INVISIBLE CEILING

The United States debt is outrageous and unconscionable but is it real? Both political parties have contributed to its growth. Both political parties have used it as a backdrop in political drama to advocate their policies or to justify their capitulation to increased taxation of the people. Both political parties have just completely ignored the debt especially once they have tapped it for its crises de jour political capital.

Fiscal cliffs don’t disappear when you cut up one credit card but still use nine others. Debt crises don’t become obsolete just because the credit company extends your limit allowing you to dig a deeper fiscal hole. Financial security doesn’t result from cutting the rate of your projected reckless spending in the outlying years.

Yet Congress apparently wants us to believe that the debt is only a crisis when revenue flowing into the federal treasury is not enough to allow legislators to find new ways to waste it. Their talk about balanced budget amendments is just that, talk. Meanwhile American homes are equally debt bound.

Consider a woman married to a spend-a-holic husband who has put their family’s net worth into the red. Let us call them Mr. and Mrs. Smith. She has tried to curb her hubby’s irrational notion that a credit limit on credit cards means he can max them out and then apply for new cards and transfer the debt to cards with lower interest rates and earn them money. She can’t seem to find the right words to convince him that his running up of their debt is destroying their future financial stability.

He argues that America’s monetary policy is based on debt (correct). He argues that you can’t have a good credit rating or expect to secure a loan unless you incur a debt and show you have made payments on that debt (correct). He argues that in fact on the two major purchases necessary for American families, car payments and home mortgage, it is impossible for most Americans to avoid debt (correct). He argues that even short of declaring bankruptcy there are many debt companies that will negotiate down your debt with creditors allowing you to keep your assets while only paying a portion of what you owe (sadly correct). He argues that even in the worse case bankruptcy scenario they would be not only be free of debt but that between Social security, Medicare, Obamacare and a disability claim (such as PTDD or Post Traumatic Debt Disorder) based on the government allowing new made up emotional illnesses,  they will be fine (very sadly correct).  

As you can see, Mrs. Smith is dealing with upside-down thinking in an upside-down world. Loans and credit limits are viewed as assets while those that have paid for all their possessions with cash money are off the financial radar screen. The sad reality is that those that have been responsible with their money will eventually pay for the debt of all those irresponsible, the fact is we are all already paying. 

No one in Washington is using their bank accounts to fund federal programs. They are not using the money in their wallets to pay interest on the debt. They will not lose their assets if the treasury defaults and T-Bills become worthless paper. They don’t care because they will just stiff some creditors (taxpayers and government contractors) while ensuring banks and investment firms get bailed out.

Why do you think Congress bailed out Wall Street instead of Main Street? Yes, because these politicians’ portfolios were on the line and their biggest campaign donor money was on the line, it is just that simple.

We have been told by Washington that the debt is unsustainable for decades. We have been told that there is a looming crisis in which the government will default on paying out entitlement benefits. Has anyone realized yet who will bear the brunt of costs if the government can’t sustain its debts? 

Here is a hint; it won’t be those whose work entails walking to their mailboxes to pick up their government checks. It won’t be either the retired or the current politician. It won’t be the ultra rich for they will just follow their offshore accounts and become an island immigrant.

Yes, there are just two groups of American that will bear the costs; working men and women and the aged. The working men and women will be so highly taxed they will be enslaved and the aged, well get ready Grandma because it is the big government Democrats that will be pushing you over the cliff to an early grave as a way to save money.   

So if the American debt is real and is a real crisis, why has Congress raised the debt ceiling without any spending cuts? The simple answer is because they can. Just like the obtuse Mr. Smith that never opts to stop spending money he doesn’t have and instead is willing to stick his selfish debts on all consumers, politicians in Washington fear no responsibility.

All high rollers eventually lose and when they lose they lose big and crash hard. Americans are allowing this President and Congress to leverage Americans financial well being and it is time we pull the rug from these deadbeats. The debt is an enormous problem and is dragging down the asset wealth of all Americans not just the next generation that will be holding the hot potato. 

Don’t let any politician tell you the solution is increasing taxation or their code terms such as “increasing revenue”. Mrs. Smith knows what her husband does with her raises and it has only increased their debt. Washington has neither a ceiling nor a floor, we the people have put them in charge of our credit cards and they are being morally reckless.

American taxpayers must start pulling the rug from the elitist’s spenders in Washington and in your State Houses and demand real fiscal ceilings or all Americans will fall under the floorboards and into the permanent debt trap. This fiscal crisis is real serious and this administration is creating more debt not just by spending immorally but by killing the jobs that would help all Americans dig out of the hole.

We can run from the debt but we can’t hide. The election of 2014 is not just about Obamacare it is about the future of America from a monstrous government that will strangle us if left to the spend-a-holic left.