Blog: President Washington's Forgotten Advice On National Debt
National debt is not a good thing or even a necessary evil, but rather a convenient excuse for purchasing votes to remain in office. How many congress critters would be re-elected if they had to maintain a balanced budget and retire the national debt in say 10 years? It would be a very painful process with Granny and the soldiers going under the bus to save their collective skins. The question becomes what are our priorities and what are we willing to give up because soon like Greece we are going to be faced with these very difficult choices. Do you think China is going to allow us to continue to run up debt with no consequences? How long before they pull the rug out and we come crashing down? It could never happen to the mighty US with the strongest military the world has ever know, but what happens when you can pay them or feed them? What happens when the money runs out and the music stops? It ain't going to be pretty folks and it will be every one for themselves trying to maintain their piece of the federal pie/tit. I pray that we are smart enough to start moving in the right direction, but based on the choices for November that doesn't seem likely. Good luck and pass the ammo, it is going to be a very bumpy ride down.