Tuesday, February 2, 2016

$19T and more free stuff

"What we are visiting upon our children is beyond immoral. It is almost criminal."

Shhh. Don't tell anyone. In the middle of all the hoopla in Iowa, with the attention focused on the drama of the caucus, our national debt hit an important milestone. It went over $19T. What I have commented on many times before concerning our national debt is this - it has now become so much part of our national landscape, nobody seems to care. It just grows, and grows, and grows.

And because of this all too familiar debt, I think to many people money has become an abstraction. It does not mean anything. It is just stuff. Play dough. And nobody is less concerned about this debt than the entire Democratic Party. How do I know? For starters, nary a Democrat ever mentions it. And not only do they not mention it, Bernie and Hillary are in a death match to see who can "juice it up" more and more by offering tons of free stuff to everyone.

What is going to be interesting is watching to see how the two Santa's operate after last night. Since it was a virtual tie between Bernie and Hillary, the promises coming out of their respective mouths are going to explode. Things will start to get so bizarre between the two of them, I fully expect one of them to offer free everything to everyone from birth to death. Nobody will have to work. This magic money tree in back of the White House will satisfy everyone's needs. 

As ridiculous as that sounds, I really believe some Democrats think that way. They live in a "la-la" land. And when confronted about the dangers and evil of our national debt, they shrug it off by blaming George Bush and his "unpaid wars". To them, nothing else seems to matter except deflecting the blame. 

The danger we face is our nation becoming like Greece or like Denmark. Somebody put on social media yesterday a post showing what Denmark has become. Low work hours, high minimum wage, lots of freebies. To pay for all that is a confiscatory tax of around 65%. Or we will become like Greece, where we are a whisker away from total default. Or even worse, the Weimar Republic where hyperinflation would cause us to print $1,000,000 bills.

Economists who have not been corrupted (like Peter Schiff) think our debt is as serious as a heart attack. It not only is ruining our economy, it has ruined it. In theses days of needed truth tellers, all we get liars instead. Truth tellers are far and in between when discussing our debt.

By the time Barack Hussein Obama leaves office, our debt will be approaching $20T. The cow has kicked over the lantern, the town is on fire, and the people just continue to dance. Nobody wants to hear about the fire, about the danger, just the free stuff yet to come. Remember this come November.  

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