Posts Tagged ‘ Balanced Budget Amendment ’

15.2 TRILLION and there ain’t no stopping us now

January 9, 2012 was a historic day in America.  It came and went without much notice in the press or by the millions of Americans affected.  Without Congressional approval, without a vote, without a whimper, the debt limit was automatically raised and the national debt became a record 15.2 trillion dollars.

The new debt number exceeds the total Gross Domestic Product of the entire nation,* which was $15.176 trillion in 2011.  As Americans we should be outraged.  We should recall and impeach all our elected officials who silently approved.  But will we?

No.  Most Americans don’t even realize the danger.  Most won’t care until collapse is imminent.  Then just like in Greece, riots will erupt and people will be confused wondering why they never saw this coming.  I’ve been predicting this since 2004 and writing about it here since 2008.  People smarter than me have as well, but no one listens.

Would you like some fries with that?

Some with shallow understandings of macro economics argue, “it’s a harmless debt, we owe it to ourselves.”  That’s like walking across the Sahara without water and saying, “But it’s a dry heat.”  Nor is it unlike a 900 pound man claiming the extra 1300 calories in the Monster Thickburger won’t make a difference in his 20,000 calorie per day diet.  In both examples the result is the same. Continue reading

The debt argument – Marriage, spending, and conflict resolution

You likely know the answer to this but I’ll ask.

What is the number one cause for divorce in the United States?  You answered “money,” right?  Ok, I gave you that answer and perhaps it’s correct, but marriage experts disagree. The Coalition for Marriage, Family, and Couples Education claims it is not money, but rather “habitual avoidance of conflict.”

Even when both partners are extravagant spenders, over time one will become more conservative while the other will react by spending more.  Sometimes when the partners begin diametrically opposed in their financial approaches, the conflict pushes the relationship to the brink.  When children are involved and/or the partners are strongly motivated to make it work, they may avoid conflict by simply not talking about the issue.  One partner might secret money away while the other hides their spending.  The conservative or saver partner might choose to simply go along with the spending in order to pacify the irresponsible partner. Continue reading

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