An analogy to ponder. If someone buys a home on a 30-year fixed mortgage, at 6.25%, when they're done paying the loan, the amount paid will be more than twice that of the amount borrowed. Simply, your $250,000 house will cost you $554,145.48. Sounds like a deal, right? What happens when you only pay the interest and none of the principal? After 30 years, you will have paid $458,906.97 and still owe the original $250,000. That's exactly what our government is doing, year after year. Not only that, they continually borrow more money, year after year. Currently we owe over $8 TRILLION. Who do we owe that money to? The Federal Reserve and Foreign Nations, and they'll gladly keep loaning it to us because we only pay the interest. Only in this case, the amount borrowed isn't $250,000, it's $8,000,000,000,000+. Only in this case, the interest paid per month at 3%, if we didn't borrow more, would be over $20 Billion, or over $657.5 Million per day.
Who here wants to continue that process? Who thinks it's a great idea to keep borrowing more money? To keep increasing the National Debt Ceiling? To never pay off the National Debt and forfeit our future to servitude to pay interest? Obviously the Democrats and Republicans think it's a great idea. Neither of the two parties have put forth a plan to eliminate the National Debt. Neither of the two parties in the last six years have "balanced" the budget. What the hell are they thinking? What the hell are Americans thinking by continuing this insane nonsense? None of us would tolerate our neighbors perpetually borrowing money from us to pay the interest on their home loan while they party on the weekends. None of us would tolerate paying their mortgage period. So why do we tolerate that from our Government Officials? Why do we think it's okay? Do we need another 1929 to slap some common sense into the American People?
Our fiscal policy must be one of conservatism. We cannot spend what we do not have and pretend it does not have consequences. We find ourselves in a position beholden to the interests of foreign nations with goals and ambitions that are contrary to our own. We must have an economic policy that promotes economic growth and stability, starting with eliminating the National Debt, followed by eliminating the Federal Reserve.
Subscribe to:
Post Comments (Atom)
1 comment:
This kind of relates to what I emailed you about regarding the stages a super power goes through. We are going to end up being slaves to China and Arab Nations. I could see a role reversal happening if we don't bring jobs back to the US and get our buying power back. We send so much business overseas we're just making those countries wealthier! The CEO's, CFO's, and presidents of our companies don't care! They're smart enough to have figured that out somewhere down the line. They care only for themselves because regardless of how bad a company does (as we can see with some of the bank closures), they and their buddies still walk away millionaires and don't have to worry about the futures.
Post a Comment