The Poor are the Ones Who Will Suffer the Most by Continuing to Ignore Our Debt
(Part 1 of 3 –)To folks who watch politics closely, no part of the spectrum is without culpability for the fiscal situation we are in. The remaining moderates from years of ideological purification bent too far and let both parties overspend and undertax our way to where we are, and its not like moderates are invulnerable to the all too easy urge to give more and ask for less… its been a long time since we had a major politician say anything near JFK’s adage that we shouldn’t just selfishly look to what the government can do for us.
Democrats would do well to look to that great figure for inspiration in these times. On the left, those who refuse to even consider trimming any spending from entitlement programs refuse to see that without evening out our debt situation, when (not if) the debt starts squeezing money out of spending and forcing it towards debt repayment, it is the poor, elderly and otherwise needy that will suffer the most.
This is not conjecture, this has been the case in every country that has faced serious debt problems. Some European countries are in the situation we are going to be in not too far down the road, and are having to make the kinds of severe austerity measures that we will have no choice but to make if we don’t make tough, but much easier, choices now.
All but the most vulnerable among us must sacrifice some, and very soon, or we all will all suffer much more in the not too distant future… retirement programs will be drastically cut and taxes will be drastically raised.
The economics are incontrovertible… Einstein once said that compound interest was the most powerful force in the universe. Right now that is the very force we are choosing to pit against ourselves. This is insanity.
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