John Robson writes a niece piece on yet another example of leftist folly when it comes to managing our government.
Anyone older than a millennial can remember the consternation of the 1990’s and Ross Perot and Preston Manning and the concerns about debt and deficits. Those two never achieved power, but they pushed the agenda of control such that the Clinton and Chretien governments, despite being “liberal” took their cues and balanced the books (albeit on the backs of strong economies, built on policies of their predecessors).
But since then, even under the watch of supposed conservatives like GWB and Stephen Harper, we’ve backslid to the point where, as is pointed out in the article, the interest payments on our debt is more than what we spend on education and healthcare in this country. And where are these interest payments going? Some of it goes to people and institutional bond holders on this continent, but in large part it goes to Saudi princes and the Chinese government. It’s been said that yearly interest payments by the US on government bonds held by the Chinese actually covers the annual cost of the Chinese military. It’s crazy, that one superpower is paying for the competing superpower’s military.
But who’s to blame? Most everyone. There are two sides in elections; one that promises lots of goodies, and one that doesn’t. People like the goodies. Oh, you can point out that hey, someone’s got to pay for those goodies – higher taxes! But when the higher taxes never really materialize, people just say “sure sure”, and vote for the goodies. There are higher taxes, but they’re just being deferred to the next generation… but who cares about that? I don’t have any kids, what do I care? or They can just do the same thing we’re doing and pass it down to their kids! or This spending is “investment” that will help us GROW out of our troubles! or We’re creating a better world for our kids to inherit!
Forty-five percent of Democratic voters in the Iowa primary last week identified themselves as “socialist”. Probably similar numbers to what you’d get in Greece (Italy will be 2016’s Greece, watch). How’d that turn out for them.
Eventually people will stop loaning you money, especially when they no longer trust future generations to pay it off. That day is coming, soon. Then there won’t be any goodies for anyone.