DON’T WORRY ABOUT RISING FLOODS OF NATIONAL DEBT

(we can always raise the limit bridge….to span them)

Congress apparently has never faced a national debt load it doesn’t like. Its motto for that seems to be – don’t lower the water….raise the bridge! –

It’s at it again. Right now, the “honorables” of the House are busily pushing for a bill to raise the national debt limit yet one more time by another $250 billion. Admittedly that’s petty cash in that lotus land we call – Washington, D.C., because that’s  about as much as it probably takes to cover the cost to maintain that House in any given year.

What’s so depressing about such fiscal ignorance and irresponsibility are the excuses they use to justify it. In this instance, they’re claiming they need to do so because, otherwise, they won’t be able to:                                                                                                                                                     

a) continue funding the Iraqi/Afghani wars.                                                                                    

b) Social Security might not be able to send out its monthly checks to the elderly.                           

c) Medicare might also come up short, and have to cut or suspend payments on anything.

A more dishonest bit of sophistry to justify stupidity would be hard to find. First, they conveniently ignore the fact that they previously promised, if elected, to end those wars, but the very first thing they did was to continue funding them. Second, as regards both Social Security and Medicare, they also ignore that both are mostly “pre-paid” for by taxes skimmed, right off the top, of every still employed working stiffs’ paychecks, plus, from every monthly stipend so generously provided our elderly.

So, what’s the problem? Simple, the problem is that they’ve prepared themselves a nearly two trillion dollar Federal budget for this fiscal period, but now find they don’t have enough to cover it. Oh, woe, what can they do about that?

Well, of course, they could start by whacking some 30% right off the top of that monstrous pile of spending, which would still hardly put a dent in any of their favored programs. It would probably just provide us with a leaner, more efficient, government machine (we can dream, can’t we?).  It could, also, and for once, display a bit of leadership-by-example, by voluntarily voting to cut all its pay and allowances by a modest 10% for the remaining time of this administration. Granted, that would only be a token bit of savings from such a load of expenditure and debt, but, why should they live fat when the rest of us have to make do with….lean cuisine?

Of course they can’t do any of that because that would set a precedent against maintaining their spendthrift habits .So, much like credit card junkies, they prefer to come begging to the card bankers (that’s us, the taxpayers) to raise their credit limit, instead. And as we all know, higher credit limits mean higher rates of interest, and in turn, that higher interest load, much like that little Pac Man monster, begins gobbling up everything in sight until, voila, we’ve become just another …Banana Republic!

Perhaps the real solution to this national debt problem is to now insist that any raise of the national debt limit must be pegged at no more than 30% of any current GDP. That is, whenever the GDP is high, the limit’s value can be correspondingly higher also. Whenever it is lower, the limit’s value is also lower. By strictly requiring that debt limit raising and borrowing be kept to such a 30%  of GDP limit, we may not soon become a rich nation again, but at least we won’t go…broke.

Well, what do I know about higher mathematics and financial matters? I was made permanently fiscally illiterate about such things because of a childhood incident when being taught arithmetic. Yes, it all happened because I hadn’t properly done my homework regarding our – addition –.lesson. So when the teacher had me stand up and answer the questions about one plus one, two plus two, and four plus four, I used my fingers to get the answers right. Irritated by such clever maneuvering on my part, the teacher then sternly said – Very good, but now, young man, put your hands in your pockets, and tell us how much is – five plus five – ?

After a moment’s hesitation, I uncertainly answered….eleven? Which made my classmates erupt in giggling fits, while my teacher turned red-faced with embarrassment, and I’ve had to take my boots off to count to twenty, ever since.

God bless the Congress of these United States!

CENTURION