“It is incumbent on every government to pay its own debt as it goes. A principle which, if acted on would save one-half of the wars of the world.” Thomas Jefferson
I have always been impressed with the perennial positive attitude and constant smile of my brother-in-law. Never argumentative or negative but having the ability to state his position politically or personally in a positive clear manner. I wondered what it was about him that kept him this way and a recent conversation revealed his secret. We were discussing money matters and I asked him how much of a mortgage he had on his home, which would probably appraise close to a million dollars. His response: Mortgage? I’ve never owed anybody anything. Even the building where I held my dental practice, I’ve owned free and clear of debt.” The secret to his smile is out in the open.
Never in the history of this great nation have we been saddled with a more dysfunctional government comprised of politicians who are void of moral courage. Our nation is nearing bankruptcy yet nothing is done to reign in spending. Approaching 18 trillion dollars, the national debt threatens to destroy the dollar and has already cast a pall across the country in the form of a stagnant economy. Do our elected officials run their personal finances the same way they run the government? I think not. The American smile has been wiped away by the American debt and very few have the moral courage to right the sinking ship. The nation’s financial mismanagement is a sickness that, just like the body that has ingested spoiled food, will stimulate the vomit reflex. Crash of the financial market is inevitable without imposing of massive taxes on the people which will have the effect of destroying an already weakened economic recovery.
Get ready for the wild ride.