Friday, November 9, 2012

Are We Gonna Die in Debt?

Hello, out there in cyber world!  It's me, the Political Chicken back for more post election analysis.  You know me, very in depth and hard hitting.  Bwahahahaha!  At any rate, I have (obviously) been thinking or better yet, stewing over the results of the election on Tuesday.  There are lots of things still swimming through my head right now.  Like, for example, where did the election go wrong?   Could I have done more?  How do we recoup the damage that Obama has done and still yet to do?  Last but not least, what would make anybody in their right mind vote for him twice? 

Besides all the talk of free shit and not being able to beat Santa Claus, which I am sure that there is truth to that, I think it goes deeper than that.  At this point, I'm willing to put aside partisan politics for just a moment and say it goes even deeper than Democrat or Republican.  Wow, Political Chicken, what could be deeper than that?  Finances, money if you will.  No, not the spreading of it or the redistribution of it, which does play a role, obviously, but something else that ties into money.  Lines of credit.  Oh, yes, stick with me for a minute and I'll explain.

We live in a society of instant gratification; 3G, 4G and gotta-have-the-latest-and greatest-app or Ipad or Iphone.   Not to mention HDTV, high speed internet and 3D televisions.  How do we acquire these things?  Bingo!  Credit cards, lines of credit.  Gone are the days of saving cash up to pay for things.  Nah, just ring it up and I'll pay it off later...

Later becomes next month, then next month becomes three months, then three months becomes, well you get the idea.  I found some information on that I thought would fit into this blog, so here are a few of the statistics that will 'blow your mind'.

- Incredibly, 43 percent of all American families spend more than they earn each year.  Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up.  According to the Federal Reserve, median household debt in America has risen to $75,600.

Large numbers of them never even escape at all and die in debt.
Consumer borrowing rose by another $19.3 billion in December 2011.  Right now it is sitting at a grand total of $2.5 trillion according to the Federal Reserve.

We always criticize the federal government for going into so much debt, but we rarely criticize ourselves for our own addiction to debt. 
So how can we expect our gimme society who doesn't even live to see the day when they pay off their own debt to actually believe that the United States of America, the most prosperous nation in the world, could ever run out of money, or credit?  Now, I might be giving some folks more 'credit' then they deserve because I'm assuming that people CARE if we run out of money.  Or if THEY run out of money, for that matter.  I believe that people don't think twice about where the government money comes from.  I think that they believe that we just print it...out of...thin...air...oh, wait.  Nevermind.  If we could just show people what we are in for, maybe they would take notice.  I know, I'm being supremely optimistic.

We live in a welfare state, and if we didn't before Tuesday, I'd say it's almost inevitable now.  So, as unpleasant as it may be, now it is time for, as Dave Ramsey would say, beans and rice, rice and beans until all of your household debt is paid off.   As the Bible says, "The rich rule over the poor, and the borrower is slave to the lender." Proverbs 22:7  I, for one, don't want to be anyone's slave.



  1. Currently, the USA is 16.1 Trillion in debt. Under the Obama White House, he will add at least 4 Trillion each year, as he has in the past four years, to finish out at 32 Trillion dollars for the US debt! Already Senate Leader Harry Reid is asking for a debt ceiling increase up to 20 Trillion for the year 2013.

    I go back to my previous posting in a previous blog where I suggested that Conservatives begin the rebuilding of the country by going into the education system. Teaching our children to be responsible for their own actions, not receiving a trophy for participation, but for winning. Do not expect a handout rather create a means of self sufficiency and self success. Otherwise, we are doomed to die in debt, very soon, as a nation and the scavengers will rape our resources at will.

  2. What you are saying is that at the root, it is a failure of morality driving us over the edge.

    I agree.