The Swedes have now re-elected the conservatives whom they voted in to replace big-spending Lefties in 2006. And after the conservatives cut social spending, too. Norway has now replaced its spenders, too. So has Australia. And Germany just reelected Angela Merkel Chancellor, along with her Conservative party. All those places have been running financial deficits to fulfill their social welfare promises; the same trap that sank Greece and is sinking Spain, Portugal, Italy and France. Along with others around the world and of course, America. But the others haven’t done anything about their self-destructive spending; the French in fact, replaced their conservative President with a Socialist. He’s in trouble: His actual spending doesn’t match his campaign promises. The French will likely not forgive him for this; the fact that there is no money will not be seen as an excuse. His predecessor pointed that out, after all. Don’t bother French voters with Irrelevancies…
Or Americans, apparently. The American President wants to replace his fading wars with a new, shiny one without ever mentioning how it will be financed out of existing deficits. He’s also standing strong against Congressmen interested in how his Obamacare will be financed since it is running, rather like a Defense Department weapons program, ‘way more expensive than initially promised. And with Medicare, Medicaid and Social Security already in big deficits, where’s the Prez planning to find the money? All the new and increased taxes attached aren’t enough for the job. But unlike Aussies and Scandinavians, nobody in America wants to talk about that; we’re playing: “Let’s Pretend” instead. Helicopter Benjy Bernanke’s Fed can just print up money out of nowhere to pay any bills, right? Sure!
The unfortunate U.S. average taxpayer owes $148,211 as his, her or its share of the national debt. That is, not counting amounts owed to welfare beneficiaries for Medicare, Social Security, Obamacare etc. And said average poor schlemiel earns under $50,000 a year; how’s he, she or it going to pay off his, her or its’ share of that national debt out of that income? And while one hates to mention it, there is annual interest added to that. But as we said above, nobody in America wants to talk about this stuff; I guess Scandinavians, Aussies and maybe Germans are smarter than we are? Geez! I can remember when they all wanted to come live in the U.S! Lots of Latin Americans apparently still do, which gives you an idea of how things are down there…
The only folks who seem to get it are the ones being castigated as wild-eyed right-wing extremists: the Teafolk. Sort of odd to see middle-aged and older types who clean up their meeting grounds as wild-eyed extremists, but the Prez, Nancy Pelosi and Harry Reid assure us that is so. Guess maybe, holding out for keeping your spending within your income is pretty extreme, these days.
The fake ‘government shutdown’ that isn’t (only stuff calculated to annoy the public isn’t working) is said to be over Obamacare–and it is–but it’s also about the Prez’s budget (Deficits!) and the U.S. debt limit (Gotta spend more!) as it appears that owing that $148,211 per average taxpayer isn’t enough; the Prez is insisting on more.
And when you stop kidding yourself, the only place he’s going to get the money, is from you, me and our kids and grandkids. That leaves one question I can’t seem to figure out: With everyone loaded with that much (and more coming) debt, how are we ever going to see economic recovery in our lifetimes?
Please let me know… I worry about things like that.