Brainactive
Mr.
Hey Washington, I've got a 4 year old daughter and a 2 year old son. When I read the garbage that you folks mistake for a 'budget', I get sick to my stomach , thinking about the economic reality that their generation will face. Let me educate you all. I just took out my Webster's dictionary and looked up the definition of budget. It reads:
"a plan or schedule adjusting expenses during a certain period to the estimated or fixed income for that period"
Let me ask you Washington, what part of this definition do you fail to understand? Can we at the very least stop calling this spending fiasco a budget? Lets call it what it truly is, maxing out the credit cards of our children and grandchildren.
We are at the tail end of an era of peace and economic prosperity which spanned the most economically productive years of the boomer generation. During this period, have we stashed away a rainy day fund for future hard times? Have we invested heavily in the nations transportation, education, and energy infrastructure? Or have we simply pissed it away and run up a debt which now exceeds $30,000 per citizen? Now the new 'budget' plan proposes doubling this debt within the next 8 years.
I don't know how this debt conundrum will unwind, but I do know it will be an extremely painful process. For years we all sat by and watched as sub-prime loans created an unsustainable bubble in the housing market. As time went on, the interest rates crept higher and the debt load grew too heavy for the market to bear. The result was a great crash which rattled the entire world economy. So now as I watch the national debt grow by billions of dollars each day, I ask this, what happens when the world comes to the realization that the US government is a sub-prime borrower with massive credit card balances and no plan to pay off their debt?
"a plan or schedule adjusting expenses during a certain period to the estimated or fixed income for that period"
Let me ask you Washington, what part of this definition do you fail to understand? Can we at the very least stop calling this spending fiasco a budget? Lets call it what it truly is, maxing out the credit cards of our children and grandchildren.
We are at the tail end of an era of peace and economic prosperity which spanned the most economically productive years of the boomer generation. During this period, have we stashed away a rainy day fund for future hard times? Have we invested heavily in the nations transportation, education, and energy infrastructure? Or have we simply pissed it away and run up a debt which now exceeds $30,000 per citizen? Now the new 'budget' plan proposes doubling this debt within the next 8 years.
I don't know how this debt conundrum will unwind, but I do know it will be an extremely painful process. For years we all sat by and watched as sub-prime loans created an unsustainable bubble in the housing market. As time went on, the interest rates crept higher and the debt load grew too heavy for the market to bear. The result was a great crash which rattled the entire world economy. So now as I watch the national debt grow by billions of dollars each day, I ask this, what happens when the world comes to the realization that the US government is a sub-prime borrower with massive credit card balances and no plan to pay off their debt?