Today the House will likely vote down a Bill to raise the debt ceiling. This is due, in large part, to the Bill lacking any legislative action to cut spending in any way. The Republican leadership in the House is taking the position that before they can allow the government to borrow more money, the government must put in place a measure to bring down the debt. This to me makes decent sense. It’s like a bank doing a credit check on you before giving you a loan. Or, and potentially a much better analogy, the Houston welfare system making sure you have a plan in place to get a job and make money on your own before giving you welfare.
Personally I’m a little ashamed of the government at this point. Deficit spending has been a roller-coaster ride from the beginning, when FDR did it to fuel WWII. Of course Reagan was the real spender, and he did it to bankrupt the Soviet Union and break the back of Western communism. But nowadays it’s just sad what we’re having to deficit spend on. Nowadays we spend money on three big items: Defense, Social Security, and Medicare. I’m not sure how many of you read the Constitution, but if you look in there only one of those things is mentioned as being a priority of the federal government. The other two are basically socialist programs that have become enormous and massively draining and are in a lot of ways unnecessary.
And yes I know: there are old people who don’t have money to pay for housing and medicine. There are also plenty of younger people with the same problem. However, statistically speaking, old people hold the vast majority of American wealth, as long as you knock out the top 1% earners, who defy statistics anyways and should not be included in any statistical model of wealth. That isn’t to say that I don’t think that Social Security and Medicare shouldn’t exist as plans because old people are richer than younger people, I just think that these plans shouldn’t be 41% of the budget, which in dollars and cents is around 1.439 Trillion Dollars. I just don’t think that 1.439 Trillion Dollars worth of old people actually NEED Social Security or Medicare.
That’s just me here, but I think it would do the U.S. a lot better to not spend that money driving us deeper into debt, which is owned by countries like China.
