accountability debt-free finances observations opinion

Save America

Is anyone else disturbed and embarrassed by our national debt? America’s way of doing business is expensive. The current national debt is a staggering  $ 1 6 , 1 7 8 , 3 1 4 , 5 3 1 , 7 5 3 . 2 4 . It’s hard to quantify such a number. I think it would be accurate to describe it as irresponsible and disheartening. It didn’t happen overnight. It wasn’t run-up by one administration, or one party. If America truly is a democratic republic, then we all have a part in this number. If the government works for us, we have a responsibility – an obligation – to see this number go down. But how?

I certainly don’t know the answers, but I do know what our household does when we forecast a shortfall in our budget. I don’t demand more money from my employer or go out looking for a higher-paying job. We reduce spending. We look seriously at what is a ‘want’ and what is a ‘need’. We make do. We scrimp. We pinch. We save. We survive. It’s simple math. Spend less than you make. Live within your means.

At some point we as a country stopped making fiscal responsibility a priority. We treat debt as a way of life – a necessity to live the ‘American Dream’. It isn’t. True, the politicians all know how to pay lip-service as to how they plan to lower that number, but it will take each one of us to adopt financial accountability as a priority in our own lives. Isn’t it hypocritical to expect the government to be debt-free if we’re not? I think if we want to save America, we need to save, America.

One reply on “Save America”

The other day, Matthew said he had a “million” math problems to do. We calculated for him that if he did one problem per minute, it would take him about 695 days (with no sleep) to finish. That’s just about two years! It would take about 12 days just to COUNT to a million IF YOU DIDN’T SLEEP!

It is impossible to fathom that $16 TRILLION debt! As you might expect, Scott has been carrying around some numbers in his pocket to help people put our federal situation in real terms we can understand. I asked him to verify all the numbers so I could pass them on to you.

Imagine the following “Smith” household:

Annual Income: $27,000
Annual Expenses: $37,000
Credit card debt: $161,775
Mortgage balance: $1,230,000
Net worth (if you sold everything you had): $640,000

Now, since the Smiths have maxed out on their credit card, they could logically and prudently justify opening another card to the tune of $4,800 per year, right?

Add eight zeros to the end of every number above, and you have our federal government’s situation. Do we have a national emergency or what?!

Revenue: $2,700,000,000,000
Spent: $3,700,000,000,000
National debt: $16,177,549,607,202 and counting!
Unfunded liabilities (SS, medicare, etc.): $123,000,000,000,000
QE3 $40 billion/month of printing per year: $480,000,000,000
Net worth of ALL Americans (not just the rich): $64,000,000,000,000

Pray for this election!

What say you?

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