U.S. Debt Crisis & Responsibility
The politicians of the United States have less than a week left to save the nation from bankruptcy. Will they do it? You can bet they will! Their power depends on it.
For decades politicians have constantly admonished the populace of the nation that there is only one way to live, a notion called “responsibility.” This includes paying your debts, especially if that debt is to the government. You have limited resources and are restricted to those means unless you opt out in bankruptcy under national and state law.
The Government has lived as if it has no restrictions on spending and has encouraged the populace to do the same. The bubble has burst. Simply put, the “powers that be” are “in charge” of printing money, so they print more through the Federal Reserve so that they can spend more. In essence, the Federal Government runs ahead of a wave of debt, which it now owes to central bankers in exchange for their fiat money. They have become accustomed to running ahead of the wave, which has now become the size of a tsunami.
The Government has a huge invisible infrastructure, much of it unbudgeted. This is akin to the Federal Government having a morphine addiction, which always spirals out of control. Congress sends huge amounts of cash and government credit overseas for virtually every purpose to grease the skids of ‘democracy.’ The Government has spent huge sums for unwinnable wars and for rebuilding nations as they see fit. They have not truly taken care of the nation. They have not met their own definition of “responsibility,” except to those outside the nation that they seek to please and placate.
For a nation that bears the chief monetary system that bankers and politicians ride like a horse, this tsunami has grown exponentially. However, this does not relieve the responsibility of the Government that has created its own debt and responsibility. If the Government doesn’t live up what they have done up to now, they give full permission for every person in America to abandon their debt and responsibility on any level, which is a dangerous precedent that threatens very existence of the Federal Government. They have little choice but to raise the debt ceiling, regardless of what they do in the future to reign in spending, or the nation will become the “Untied States.” Payback is hell in more ways than one.