The noise and fury coming out of Washington regarding raising the debt limit may have a silver lining.
The public is beginning to understand fundamental economics and will eventually elect representatives who also understand. Things may get worse before getting better, but they will likely get better with a well informed electorate. Now is the time for truth.
The truth is we have a massive spending problem and not a revenue problem. Raising the debt ceiling to allow more spending is not the solution, but part of the problem.
Another part of the problem is the FED and a manipulated currency. Good time to read “The Creature from Jekyll Island: A Second Look at the Federal Reserve” by G. Edward Griffin.
We have this problem, not because the people are demanding more services from government, but because many of our opinion leaders and politicians have an ideological agenda. They do not want our free capitalistic society to continue. They think our free markets hurt and exploit the poor and will extinguish all our natural resources.
This thinking is based on Marxist or socialist principles which have been tried over and over again and have been a disaster. The reason is because socialism is not about producing anything, it is about dividing a scarcity. Also, it’s about class warfare and the plunder of those who are successful and wealthy.
The good news is free market economics has been a blessing to America and the world. These sound principles hold the bright promise of our children living in a prosperous free society.
Albert J. Segalla