Budgeting
posted in General |Our country is in a financial mess with an uncertain future. We are daily bombarded with an assortment of financial/monetary terms that seem to defy understanding – deficits, foreclosures, forfeitures, bankruptcies, investment banks, interest rates, unemployment, borrowing, debt, capital assets, the economy, bailouts, stimulus, deficit spending, etc., etc., etc. The message seem to be that no one knows with certainty what is going on – far too complicated to explain to the non-accounting types. Too complicated? ………. or is it?
Simple – our Washington wizards annually PLAN to spend more money than is expected. That’s right, they PLAN to run the government that way. By spending more money than they have. It is insulting to taxpayers to call such financing a PLAN. Don’t try that trick in your own household.
Deficit spending infers that the debt will eventually be re-paid. Over what period of time? A thousand years? Don’t hold your breath when our national debt is in the TRILLIONS (1,000,000,000,000.00). When Chris Dodd connives to get a sweetheart $80,000mortgage, he must wonder about Congress fussing about chump change.
Obama rightly regards himself as a good word merchant. But it is hard to champion huge expenditures of money we don’t have and convince Americans that it is a good deal. Think of it another way – the day of the free lunch has arrived!!