Late Friday night both sides of the political spectrum agreed to a resolution that would keep our government operating without fear of a shut down. Both sides emphasized “We will cut the budget.” to gain support from their base.
The problem is the cuts do not go deep enough to reduce the massive debt our nation carries currently. These cuts are a mere 36 billion dollars. Not much of a cut with the national debt looming at 14.3 trillion dollars. With these cuts Congress actually just stopped borrowing money for 9 days, that’s all.
Our nation currently borrows 4 billion dollars a day to keep this country afloat. China, Japan, and a host of other investors buy up our treasury notes put on the market daily for our government to continue to spend money on projects that we don’t have.
How can a nation sustain sovereignty if it continually spends more than it takes in? The bottom line is it can’t. How can a nation tell its citizens spending 5 trillion dollars a year is good for the economy and the nation with a straight face? Economics 101 tells us you can not borrow money to spend your way out of debt, it is impossible.
In order to return our country to fiscal sanity we must as a nation pay down our debt. Our elected officials must start working on solutions to the spending habits in the Halls of Congress instead of continuing to spend what they do not have. We need leadership in Washington, those who will make the tough choices regardless of how it will affect their re-election campaigns.