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Tuesday, January 15, 2013

Follow Up: Who's the greater Deadbeat?

In yesterday's post, the question was posed whether or not the US is a 'Deadbeat' nation...

The President said we were Not..

He is misinformed or a Liar..    Because we are one.

But today let's move beyond that to ask who's the bigger deadbeat-- the US government or the US citizen?  And sometimes the best way to answer a question is by posing other questions..

For instance, if you have struggling mightily to keep afloat and you have the following expenses:  food to feed your family, an electric bill, a water bill, a health insurance bill and a bill from a collection agency, which gets paid Last??

Guess which bill the US government would pay First?
Next question...

Let's say you have two people.. we'll call them "Indy" and "Sam".. both are up to their ears in debt with no prospect of things getting better anytime soon.  

Indy makes some adjustments to his life, even if they may appear minor-- he now shops for clothing at Target instead of Macy's..  eats at normal restaurants instead of 4 Star Michelin-rated fare and gave up the cell phone.

Sam believes in appearance..he has a reputation to preserve.  He thinks he's Super; a Power to be reckoned with... Any break with that illusion and Sam is no longer the toast of the town; no more clout.  So he not only does not cut his spending, but drives even more ritzy cars and wears clothing with horseys on them; collars up...

Who's the bigger deadbeat- Indy (Individual) or (Uncle) Sam?
The US owes $16.4 Trillion dollars to its creditors.

It was only 31 years ago, during Campaign 1984 that Democrats ran a campaign against President Reagan showing concern and unease that for the first time in our nation's history, we had eclipsed $1 Trillion in National Debt.

The nation back then, didn't seem to give a shit.. They re-elected Reagan to the largest landslide victory in US history including winning 49 of the 50 electoral college states.  Any why not?  Times were good-- people were paying less taxes and no one asked how any of this was to ever be repaid?

And all those people in decision-making power back then-- most now dead.. Rotting away.  They'll never have to pay any of it back..  The few remaining from the Reagan era.. people like former Fed Chair Alan Greenspan-  ugly, old prune-faced walking corpses who also never will have to pay their debts or for their crimes.
It took about 195 years, give or take... From the Presidency of Washington to Reagan to compile $1 Trillion in total National Debt..

And its taken only another 30 or so years to multiply that figure by over 16.

And every time the debt ceiling's been raised, it is as if an individual's credit card credit limit has been raised.  The difference of course being that the individual has to beg n' plead and create tear-jerker stories to get it raised;  Government? Ehh.. just a 2am vote on a late Friday night when the nation is sleeping or clubbing -- More credit-- Done.

So...  Who's more pathetic..  Who's the greater Deadbeat:

The indebted Individual or the Nation?