Remember Flags of Our Fathers? Do you remember the scene where the General is talking to Ryan Philipe's character about how close America was to losing the war because of a lack of funds?
I haven't watched the movie anytime recently, not since I was in Iraq as a matter of fact, but I have been thinking about our extensive national deficit. I don't know the truth, and I'm not an economist so I won't research it, but I have been told that the 160 Billion dollars that funded the stimulus (deployed Soldiers didn't get a stimulus by the way) was in turn funded by the sale of bonds, generally purchased by foreign countries, such as China. That applies to the "supplemental" war funding, as well.
So, if you haven't thought of it, look at it this way. There you are, in the grocery store. You're buying your eggs, milk, and tomatoes (sans salmonella). When you check out, you are shocked to see that the cost of your groceries exceeds the amount in your checking account. Unperturbed, you open the wallet and remove the favorite credit card, swipe it through the doo-hickey, and out you go with groceries in arm. Now, you understand that you have just been given a loan by a bank. On that loan, you will pay an interest rate (provided you don't pay back within the grace period), maybe 8-15%, 21-33% if your credit is really poor.
Now here's the kicker. Your a lower income family member, whose other 12 credit cards are maxxed out and who is barely making minimum payments as it is. You do not have adequate income to do any more against your rising debt. What can you do?
The foreign countries buying our national bonds to fund the stimulus and the war on terror, both noble causes, are the banks of the 12 maxxed out credit cards. The low-income job that we have, well, that is the national gross domestic product that has reached its limits until we raise taxes again. And those minimum payments? I don't even want to know what we pay in interest each month. But to be sure, at some point, these "banks" are going to want their money and are not going to accept "good will" as payment.
As I observe more, I start to see entire fields of opportunity for civic
ethics teachers to field discussions. This is MY country and, in the
affectionate terms of an Army leader, I am responsible for all that my
country does and fails to do. If you don't believe that, try going to
Iraq or Afghanistan, where a Soldier is held accountable for all the deeds of those
prior to him.
For my own part, I am starting an I bond and an EE bond today to invest in America.
(Jeez, did that sound like a commercial, or what?)
I haven't watched the movie anytime recently, not since I was in Iraq as a matter of fact, but I have been thinking about our extensive national deficit. I don't know the truth, and I'm not an economist so I won't research it, but I have been told that the 160 Billion dollars that funded the stimulus (deployed Soldiers didn't get a stimulus by the way) was in turn funded by the sale of bonds, generally purchased by foreign countries, such as China. That applies to the "supplemental" war funding, as well.
So, if you haven't thought of it, look at it this way. There you are, in the grocery store. You're buying your eggs, milk, and tomatoes (sans salmonella). When you check out, you are shocked to see that the cost of your groceries exceeds the amount in your checking account. Unperturbed, you open the wallet and remove the favorite credit card, swipe it through the doo-hickey, and out you go with groceries in arm. Now, you understand that you have just been given a loan by a bank. On that loan, you will pay an interest rate (provided you don't pay back within the grace period), maybe 8-15%, 21-33% if your credit is really poor.
Now here's the kicker. Your a lower income family member, whose other 12 credit cards are maxxed out and who is barely making minimum payments as it is. You do not have adequate income to do any more against your rising debt. What can you do?
The foreign countries buying our national bonds to fund the stimulus and the war on terror, both noble causes, are the banks of the 12 maxxed out credit cards. The low-income job that we have, well, that is the national gross domestic product that has reached its limits until we raise taxes again. And those minimum payments? I don't even want to know what we pay in interest each month. But to be sure, at some point, these "banks" are going to want their money and are not going to accept "good will" as payment.
As I observe more, I start to see entire fields of opportunity for civic
ethics teachers to field discussions. This is MY country and, in the
affectionate terms of an Army leader, I am responsible for all that my
country does and fails to do. If you don't believe that, try going to
Iraq or Afghanistan, where a Soldier is held accountable for all the deeds of those
prior to him.
For my own part, I am starting an I bond and an EE bond today to invest in America.
(Jeez, did that sound like a commercial, or what?)
