I have been unable to comprehend how our leaders and population can accept the fact that our country can spend more money than what it is GIVEN to operate. I repeat, what is given TO OPERATE ITS ACTIVITIES. Our country does not earn income as it relies only what we are asked or maybe demanded to give. What a wonderful system that is presently out of control.
I had an opportunity to ask my grandsons what they thought about our country’s debt. They informed me that their professors in college said they should not be concerned as this was only a future responsibility and we are borrowing and spending to solve problems created by the Bush administration. I asked them if they bought a car and they did not pay for it, what would happen. Of course being brilliant young men, well taught in our school system, they responded that the car would be taken away. But what if the car was not worth what was owed? Response, the bank would have to take the loss.
I then asked if our country borrowed money and could not pay it back, what could happen? Well we could declare Bankrupcy. Brilliant answer. So how would the new United Nations World court resolve the issue? Probably force the sale of assets!! Great response!!
Well an old grandfather with a limited history memory asked what we, the USA, might have to give up to those countries that we owe money. We purchased the Northwest Territory when France was broke. Continuing, we might have to sell or give up Alaska or maybe even Iowa as payment. Response, “but what would happen to the property owners and people living there?” I would think that they could then become residents of their new country or we could agree to move them to compounds in the remaining areas of our country where they could contribute to the remaining debit owed to our other debtors. In addition, if this did not work out, my grandchildren could always make up the difference.
For some strange reason the subject was changed; however, I continue to point out that we MUST rein in spending and define a budget. I still do not know if I was able to communicate to my grandsons, but I certainly feel better having expressed my wisdom to my offspring.
W. Patrick Winton