In light of President Obamaâ€™s SOTU address the other night one thing was painfully clear to me… Still lots of rhetoric and we still donâ€™t understand the ramifications of not balancing our budget.
For most Americans and small business owners we understand we cannot spend more than we make or collect in revenue. Why doesnâ€™t Washington understand this?
Is balancing the budget a Democrat vs. Republican issue? I donâ€™t think so because both Democrats and Republicans have shown they canâ€™t balance a budget. In light of this, along party lines Democrats voted in favor of another 1.9 trillion dollars in deficit spending with China now owning the largest portion of US debt.
What happens if China calls us on our debt? Do we go into hyperinflation? Do they take ownership of the Whitehouse? Or do we have to start driving Chinese cars?
As Americans do we not see the disaster we are headed in if we keep allowing our government to spend out of control? There is only one way to fix the problem; we need to cut wasteful spending. This is what a family or business must do when one looses a job or a business looses customers or revenue; cutting expenses is the first course of action.
To put things in perspective, it has been reported that the 1.9 trillion in new debt is more than we borrowed our first 200 years as a democracy. Iâ€™m wondering what new jobs or industries will be created to produce the revenue required to pay this mountain of debt down.
What are your thoughts on our current rate of spending? Iâ€™d love to hear from some young folks or recent college grads on this issue.
Does America have a future if we keep spending our inheritance?
January 29, 2010 | Dallas Yellow Pages
I’m writing this post to generate some discussion as it seems our view is somewhat skewed with regard to the economy and America.
I hear both republican and democratic candidates talking about “the economy” as the #1 issue for voters in this year’s election. Both republicans and democrats blame one another for varying economic issues. We need to take a look at ourselves.
We are complaining about the economy and loss of jobs as a political issue, but didn’t our greed for more “stuff” at cheap prices force many manufacturing jobs over to China? Now, we are outsourcing our agriculture and whatever we can come up with to the lowest bidder.
In a sense, we’ve created our own problems through greed or ignorance. I would gladly pay $5 more for a hammer if i knew it would keep a job here in America. America used to be country that built things. I’m sure many companies would respond to consumer demand for products made in America. Now we are in debt to China for trillions of dollars all while they continue to make cheap products to feed our never ending demand for stuff. Don’t believe me? Just drive by your local Wal-Mart, they are always jam-packed while other local stores compete for a fraction of the traffic.
It was in a sense our buying habits and patterns that allowed big chains to gobble up many small mom and pop stores in our communities.
We claim to have moved from a manufacturing economy to a high-tech economy, but at the end of the day we still need to produce something and we are still outsourcing our high-tech jobs. What is the outcome? Many young folks in college are already saying they don’t want to pursue careers in IT because they are worried about job stability or getting outsourced.
This one hits home for me and I think it speaks volumes for the state of our culture. The other day my youngest daughter asked me for some advice concerning one of her friends who’s mom and dad are going through a divorce. Her friend is deeply hurt and bitter.
Divorce statistics say that over 50% of married couples divorce, including proclaimed Christian couples. This means that statistically 50% of Americans who are legal adults cannot keep their word or commitments. I know this does not include those who don’t marry, but I think you get my point. The experts say that families are the cornerstone of any society.
If 50% of married America cannot keep a marriage oath, is it realistic to expect that a congressman, senator, or president will keep their word? Obama made a pledge not to accept private funding and then went back on his promise when it was expedient for his campaign.
Before we blame our politicians for everything with the state of the economy let’s take a look at ourselves. What are your thoughts? Should the average American take any responsibility for the state of our economy? Did the average consumer have a role in companies moving to China? Is it realistic to expect that the government will or can fix the economy?
Share your thoughts with our visitors.
October 26, 2008 | Dallas Yellow Pages