I'm sorry to say that it's going to get worse before it gets any better. I think a fiscal day of reckoning has come to this country. As painful as it may be, it's necessary and way overdue.
I've been watching the debt clock for years and wondered when this day would come. To put it into perspective, this year the U.S. is set to spend $500,000,000,000 on interest alone on the national debt. By 2019, it's projected that we'll be spending $700 billion on interest...yes, just interest, on the debt. This works out to over $2,000 for every man, woman and child per year in interest alone and, as we all know, not every single person pays taxes so what does that really amount to for those that do? And, this does nothing to lower the debt in any way and we have no hope of lowering it so long as we run an annual deficit. What does that leave for actually running the country?
Demographics shows that, as the baby boomers retire, government expenses will go up to pay the benefits to those that have contributed for many years to the system. That, coupled with a crushing debt, makes me wonder if there is a solution that won't hit us all hard.
I hope that Head Start, and all those facing budget cuts, can find some way to cope in the midst of all this. Fact is, we've collectively spent all we have, maxed out the country's credit card, raided the kids' piggy banks and pawned Grandma's silverware. This country has got to learn to live within its means. It hurts now and it's gonna hurt more soon. That's the truth. The most we can hope for is that our elected officials quit wasting money and can find a sense of priorities to guide us through what, in a best case scenario, is going to be a rough ride. |