• Field Notes 17.08.2011

    Other bloggers have taken their shot at the federal budget crisis the last couple of weeks; let me throw in my two cents.  The Sunday papers were all a-flitter about another hat being thrown in the Presidential contender ring, and this morning one hat was being pulled out.  Maybe the debt deal has settled down, moved to the back pages.  Maybe it shouldn’t be.  It seems like this might be at the root of the problem with the whole economy right now.

    If you or I had a credit problem, doesn’t it make sense we’d have to cut expenses, raise revenues or maybe a lot of both?  Perhaps take that second job as a greeter at you-know-where, cut out the trip to the Bahamas this year, no Christmas vacation at Vail, etc.  Meanwhile, the credit card bills still are due and payable every 30 days.  THAT payment won’t go away, no matter what else has to be cut from the “discretionary” budget.

    Can all of one without some of the other be possible?  Not raise taxes, just make deeper cuts?  Keep spending, but let’s not raise revenues, or figure out how we’re going to pay for all this?  That seemed to be what was missing during the debate in the OTHER Washington (that’s how it’s referred to here).  Some wanted all of one while not accepting any of the other – from both sides of the spectrum.  It appeared neither was going to be happy without taking all of their jacks out of the game and going home.  Was anything really fixed?

    We (yes, you and I, and all of us in the U.S.) have in the form of the Federal Gov’t been spending more money than we take in, and we keep electing people who continue to do that same thing over and over, and because we keep re-electing them, they think it’s ok.  THAT’s what has to change.  If you and I did that, we’d have to file for bankruptcy.  What’s the old saw:  doing the same thing over and over again and expecting different results is not intelligent, to say the least.

    Meanwhile, will it take an Act of Congress to raise my personal debt ceiling?  Probably, but one thing’s for sure:  No one’s going to let me borrow money like the government does.  Shudder to think if we ever come to the point of defaulting on the loans we already have out there.

    So what’s the plan for starting to pay down that debt?  What’s going to have to cut to be able to afford those costs?  We take 30 years to pay off our personal mortgages; I have nothing against borrowing money.  Except with the national debt, we’re just making interest payments, none of the principle’s being paid off.

    There has to be a plan in place to pay the debt off, too, and no one’s addressing that.  And some things will have to be put aside to be able to make that happen.  That’s the debate, how to change the way we’ve been doing things, not more of the same.  It won’t be easy, and there are some tough choices out there.  But in the end, can it be done?

    And now on a lighter note …

    We’re less than three weeks into the football PRE-(not the regular) season, and talk about the Eagles winning the Super Bowl has started. Please stop such talk IMMEDIATELY, I’m begging you!  Talk to me at Thanksgiving; we’ll see how they’re looking then.  It’s a known fact that Lombardi trophies don’t get handed out in August.  Talk to me at New Years.  I’m not putting my jersey or hat on until then, since I’m afraid I’ll jinx the whole deal.  Talk to me around Valentine’s Day.  Not before, please.  Let’s talk about the Phillies first.  They have the NL East locked down, I hope.  As for the World Series, talk to me at Halloween.  We’ll know by then…

    Posted by Blogger @ 10:56 am

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