Thursday, May 31, 2007

There's Something Really Wrong Here....

So we used to think our national debt was *only* nine trillion dollars. Then an article on Tuesday revealed that we have a "hidden debt" of fifty-one trillion dollars, stuff like social securtiy and medicare that for various political reaons doesn't get counted in the regular national debt number.

OK, so $60 trillion in debt is ridiculous enough. But, hey, that number's been getting higher for years and we seem to be doing fine, so what does it matter, right?

I don't completely understand how money works on these large scales, but apparently, we're borrowing millions of dollars a day from China to pay for our stuff, hoping they won't ask for it back any time soon (anyone remember the post-war debts and one of the major causes of the Great Depression?).

Even if that doesn't appear to be an urgent danger, somehow our increasing debt makes the dollar worth less compared to other currencies. Again, I'm not an economics expert, but as our government keeps spending more money than it takes in, and we just keep ignoring the issue and watching the number get bigger, we're increasing our chances of economic disaster.

This is crazy! I'd never heard of Republican presidential candidate Ron Paul until three weeks ago, but almost every day I read news articles that confirm that we need someone like him in office to reduce government power and cut federal spending to a reasonable amount, just to get us out of debt before something drastic happens. Another longshot, Mike Huckabee, claims to want to reduce spending and balance the federal budget, but while he was governor of Arkansas he increased spending there by 60%.

By voting against his own Congressional pay raises during nine terms in Congress and never taking a free trip on taxpayer money, Ron Paul has the integrity that no other candidate has yet claimed to match.

Sometimes it is not difficult for me to understand why so many people are passionately convinced that he is the only hope for America.

1 comment:

Anonymous said...

you really should blog more often, Edmond. You used to be quite prolific.
-Sanguine