We (the United States government) are over 18 trillion in debt. That’s the biggest number you can imagine. And it does not include paying for all the promises we made; Social Security and Medicare, etc., which makes the number 5X bigger. It also does not include state debt. Politicians spent us to this point to win elections, and we let them do it because we wanted free stuff and more stuff and to be taken care of.
Nobody is asking our children if they want to work hard in the future to pay for the prosperity we have today.
Nobody asked us if we wanted to pay tax today for the prosperity we all enjoyed in the last century.
George Washington once wrote to James Madison – “No generation has a right to contract debts greater than can be paid off during the course of its own existence”.
This problem will not stop growing if we don’t stop putting our immediate self interest in front of long term common sense, and stop growing our government.
Is this path sustainable? How do you think this story ends? What do you think?
This is so true. Are government is out of control. We need to clean house. It is time for the people to wake up and take back the government. Make America great again.
We would vote for you! -SERIOUSLY
Larry, politicians only job is to be re-elected. As a result, they promise us “stuff” and make commitments that they know cannot be paid for. But they do not care. They will be out of office long before any of these bills come due.
Want to know of another outrage? All federal, state and municipal pension systems are way, way underfunded. And the pension benefits and the post-retirement medical benefits that the municipal workers have been promised are unsustainable. But again, no one is feeling any pain, so no one cares. When the few politicians who focus on the issue raise it, they are shouted down by the municipal unions.
This whole thing is a mess!
David Gensler, MAAA, MSPA, EA
My fear is that we don’t stop the current path VOLUNTARILY- the reality is that fundamentally it cannot continue indefinitely it must change and if we cannot make change by choice it will be made for us and this country will become a footnote in history
Our society has a sense of entitlement. We vote not for the best candidate, but for the candidate that promises us the most. We are NOT entitled to a free cellphone, free health insurance, or anything but freedom… life, liberty and the pursuit of happiness. You get the government you vote for. If we vote for hope and change in the future, then it better be backed up by a strategic plan that takes a hard look at the financial hole we have dug this country into, and offers a way out. I’m not talking about federal bankruptcy, but about making the hard choices so our children and their children won’t be left paying for our mistakes. BUT… would anyone vote for the candidate that offers us a bitter pill to swallow?
Totally agree…it is infuriating what is going on with our “representatives.” The only way to stop it is to limit the amount of money they get to spend.
I hate to say it but I feel the only way the madness will stop is through some sort of unrest. The people (payers) will have to resist the demands of our government (spenders) in order for it to stop and that will not occur peacefully. I hope I’m wrong.
I agree with all of the comments and find it heartening to know that others share the same fears and outlook as I do. No one can predict the future, but history all the way back to Rome has always proven that living beyond national means brings a society to its knees. Our debt, federal and states, plus all the unfunded liabilities are upward to 240 trillion. I believe that it will take the working and retired people of the private sector to stand together to make this change. Problem is that a significant, perhaps majority, of them are entitlement friendly and short-sighted, figuring they won’t get hurt. Nonsense – all do.
No generation should commit to financial obligations it cannot fulfill in its lifetime. That is where we are right now. We are stealing from my grandchildren (it’s personal with me!), and it is a disgrace. Our greatest moral obligation as a nation is to clean up this mess so that our next generations can live free and prosperous lives.