Mocking Greece? See Athens on the Potomac…
(CUSA) – Debt is a way that one part of society helps another. Today, however, it is primarily a tool for financial speculation. Mortgage-backed securities come to mind.
Without making an economic judgment, we can comfortably say that it is not something that has ever been taught as intrinsically good. Investing, yes! But debt, no.
In fact, in scripture debt is always a source of conflict leading to resolution though mercy and forgiveness—or being thrown in jail for lack thereof. It is the one without debt that forgives.
Practically speaking, therefore, the tsunami of debt this country is amassing needs to be seen not as some magical solution to domestic issues (real or perceived) but in the context of how nations with policies similar to the U.S. have done recently and how those policies have actually served the citizens beyond the rhetoric.
Greece is a fitting example of social policies that reflect the current U.S. Administration. It’s not going so well.
Jon Gabriel at Ricochet gives us some insight along with eye-popping data that shows where we are:
Debt increased under Republican presidents and Democrat presidents. It increased under Democrat congresses and Republican congresses. In war and in peace, in boom times and in busts, after tax hikes and tax cuts, the Potomac flowed ever deeper with red ink.
Our leaders like to talk about sustainability. Forget sustainable — how is this sane?
Instead of pointing fingers at Greece, we should consider our own situation. America may be in worse economic straits with no one to bail us out.
The numbers are dramatic and the effect of another major U.S. economic collapse could very well mimic a nation in bankruptcy and turmoil.
Click on over to get the rest of the analysis and insight at Ricochet. —DNW