I’ve heard that blasphemous claim “Debt’s a tool” for all, too, long!  I’ve been lectured by college professors, economic court jesters, on supply-side theory and that of trickle down.  In actuality, debt’s a curse.  The borrower’s a slave to the lender – just miss a few payments and see how fictitious that boast really is.

The current administration’s proposed budget is a staggering $3.7 trillion; a record – a dubious one at that.  Its projected deficit will be in the range of $1.6 trillion, another lonely record.

The National Debt is well over $14 trillion as I write.  The estimated population of America is slightly over 310 million.  So that would mean every citizen’s share of the debt is over $45,500.00.  (That’s every man, woman, and child)

I don’t know about you, but I have a hard time fathoming that much money.  So, in order to try and wrap my mind around it I went online and did a little research.  In surfing the web, I first stopped at a site that had a real time debt clock that was tracking the government’s spending every second of the day.  To be frank, I got a headache watching it – for it was spinning so fast the numbers became a blur.

How much is a trillion dollars anyway?  Politicians make it sound like chump change.

If you were to lay a trillion one-dollar bills end to end you could make a chain that would stretch from here to the Moon and back again over 200 times.  A trillion pennies weigh a little under 1,378 tons.  If a jet fighter, traveling at the speed of sound, was spewing dollar bills out the back taped end to end it would take 14 years to reel out a trillion.  With a trillion dollars you could buy the entire American supply of bacon for the next 500 years; or for a trillion you could buy every sports team on the planet.

When the fiscal year 2009 ended the government’s deficit was 1.42 trillion. That was a record, triple the previous mark set the year before.  The National Debt has increased by 4.13 billion per day ever since September 28, 2007.  And in the last five years there has been more debt incurred by the government than all of the previous administrations combined.  The total amount of spending, by all the administrations combined, from George Washington’s to that of George W. Bush, over some 230 years, was less than what’s been squandered since 2007.

In racking up debt America’s become like an old friend who’s wore out a favor.  Say a friend asks you to loan them some money.  You do it at first without giving it much thought.  The friend pays it off, at first, but then keeps coming back to ask for more. After a while the debt begins to pile higher than they can possibly manage and it comes time to cut them off.  (America’s living out that simple parable)

Some would say the answer is to print more money, but if nobody wants the tender it becomes as worthless as Monopoly cash.

Are there those in Washington who want to steer that runaway train away from careening over a cliff?  I’m sure there are, but there are, too, heathen who want to enrich themselves at the expense of an entire nation.

A worker now nets 30% less on their paychecks than they did in 1973.  Inflation will erode our way of life, the wave’s begun hitting the beach – don’t fall asleep in the lounger.  I’ve noticed everything we buy is increasing in price.  That’s inflation and it will affect everything!

When Washington says the economy’s on the rebound it’s a diversion, for it isn’t.  Don’t believe all you hear spewing from the television either.

In reality an oil refinery hasn’t been built in this country since 1976.  At that time America had 310 of them, now there are only 149.  Government regulation, in the midst of fierce competition, drove many of the smaller ones out.  One only a few miles from me, Rock Island, was a victim.  Excessive regulation can be a death sentence for a business.  To build a new refinery these days it requires roughly 800, that’s right, 800 permits to proceed with construction of the facility.  And there’s no concern for getting away from our dependence on foreign oil.  The two primary things we need are fuel for our vehicles that we can get to work and earn a living, and food so we won’t die.  However, when the government calculates the inflation index they exclude those two.  I think that’s not a coincidence, but a clever political ploy.  (My best advice would be to stay informed, and by all means get out of debt and stay there)

I don’t claim to be a tea partier, but I do admire what they’re trying to accomplish.  They’ve had enough of the irreverent style of the self-proclaimed elite.  If you care, no matter where you reside, it’s time to remove those who defile what’s right.  There was a shift by voters last election away from those who support fiscal lunacy.  I believe there need be a cry in the land to enact a Constitutional Amendment stating the budget is to be balanced each and every year ~ the government of the United States of America is broke and needs to live within its means by spending less than what it gains.  When each election cycle rolls around do your part by voting out those who stand for:  Looney Economics Bordering On Profane.

Greg Allen’s column, Thinkin’ Out Loud, was published bi-monthly from 2009 to 2017.  He’s an author, a former nationally syndicated columnist and the founder of Builder of the Spirit Ministries in Jamestown, Indiana.  He can be reached at www.builderofthespirit.org.

© Greg Allen ~ All Rights Reserved