Category: us debt

Should the U.S. be handing out money to other countries?

My short, but sweet, answer would be NO…, and here’s why.

As I’m writing this, our country’s national debt is approaching $34 TRILLION!

That’s $34,000,000,000,000.00!

That equates to every man, woman, and child in America being on the hook for over $100,000.00.

Every “taxpayer” would have to pay close to $260,000.00 tomorrow to erase our national debt.

Do the 20 million, or so, illegal immigrants we have now really want to become citizens and assume this debt with the rest of us? Something tells me this isn’t really a concern of theirs. Just sayin’.

Anyway…

We’re over $34 TRILLION in debt, but we’re still giving money away to other countries?!

Just to put this into some kind of perspective, this would be like you or I having like ten mortgages on our house, and like 20 charge cards maxed out at $25k each, and then taking out an eleventh mortgage just to hand out money to people in our neighborhood. To some that don’t even like us, and to some that actually hate us. But they are ALL laughing at us all the way to the bank.

Pretty disgusting, right?  

As disgusting as it is, I think we are at the point where we have to accept that our government is not going to stop spending money it really doesn’t have, but can we at least agree that spending this fictional “monopoly” money be limited to being spent on us?

I mean, it’s not like we have a lack of actual American citizens who could use a little help.

It’s not like all of our roads are free of potholes.

It’s not like all of our public schools are state of the art.

It’s not like we don’t have any homeless people.

It’s not like all of our veterans are being properly cared for.

It’s not like heath care and medications are affordable for everyone.

It’s not like most of us are just living paycheck to paycheck.

And the list could go on and on.

But yet, we are expected to subsidize foreign countries all over the world to make their lives better?   

This is why I’m proposing a law be passed that would prohibit our government from giving away any of OUR money to foreign countries as long as we are running a national debt.

This seems completely fair, doesn’t it?

This seems to make complete common sense, doesn’t it?

We started this practice of handing out money to the rest of the world when we were a rich country, with basically no debt.

Well, we are sadly not that rich country anymore.

We are being run by fools, who deal in fool’s gold, while the rest of us poor slobs are left holding the bag.

It’s way past time that we should hold all of these crooks in Washington accountable.

Way past time.

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How can we start “turning back the clock”…, on the “debt clock” that is?

What I’m referring to here is the National Debt, and how we could possibly, at least, slow down the pace as this debt grows higher and higher by the minute.

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You can check out the “Debt Clock” at https://www.usdebtclock.org/

The speed at which OUR debt grows is really sickening.

Our debt currently grows at a rate of about 3.5 billion dollars a day.

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And we waste a sickening amount of our money paying off the interest on our debt alone.

So what can we do about this situation?

The answer is currently, not much.

Historically, politicians are not known for being fiscally responsible.

After all, they’re not spending their own money…, they’re spending ours!

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And proposing to reduce the spending, or even reduce the rate of growth, on entitlement programs is usually a “kiss of death” regarding their re-election.

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But the bottom line is something needs to be done about the national debt eventually.

I mean, how large are we going to let it grow before it becomes unacceptable?

$50 trillion?

$75 trillion?

$100 trillion?

What comes after $999 trillion?

A quadrillion dollars.

The fact that I’m even “going there” is scary.

Please refer to my blog from March 20, 2019:  Our national debt is a national disgrace!  https://mrericksonrules.com/2019/03/20/our-national-debt-is-a-national-disgrace/

So again, what can we do about this situation?

President Trump, by virtue of his 2020 Budget, is signaling that he wants the federal government to be more fiscally responsible and more debt conscious.

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I have a suggestion, however, that I haven’t heard anyone else talk about yet.

We all know that President Trump is all about deal making.

I would like to see President Trump include portions of our National Debt as bargaining chips in his negotiations with other countries.

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President Trump could “trade” military protection, economic considerations, or any other types of “consideration” in return for forgiveness and/or assumption of some our National Debt.

I feel this would be the most painless way to actually start putting a dent into our National Debt without cutting programs or raising taxes.

And as with all loans…, what is the best way to attack your debt?

By paying down the principal!

That, of course, lowers your actual debt, first of all…, but it then also lowers the amount of interest you’re paying.

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It’s a win-win-win situation…, and we don’t see many of those types of situations very often.

What do you think?

I value your feedback and I’d love to hear from you!

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