These blogs call for some profound statements to make the reader come right out of his/her seat. However, writer’s block has had its way with me lately. Then I remembered the movie Young Doctor Frankenstein and Marty Feldman’s character, Igor, when Young Dr F mentioned to Igor that he could maybe do something about Igor’s grotesque hump…Igor’s reply, “Hump, what hump?”.
Since the beginning of this year I have been in a headlong dash to produce as much new insurance business as the good Lord will permit. How else can one keep his/her head above water in this “rapidly improving economy”? (Quotes in place as that is the swill coming from Washington.)
We re-elected a president who says we don’t have a spending problem and only need to increase taxes on the “wealthy” to add new “investment” into our economy. Meanwhile, we (us, the US in USA) continue to borrow more than US can pay back in several lifetimes. Like some of us who have resorted to paying one credit card bill with a loan check from another credit card, sooner than later you run out of credit resources. Then what?
Unlike you and me, the federal government can just print money and pray that the rest of the world will take that bogus cash at face value. As with Continental Dollars from our revolutionary war days and Confederate Dollars from the war between the states, people will begin to lose faith in the value of the dollars being cranked out by the wizards of smart in Washington. When that happens hyper-inflation will set in just as it did in 1930’s Germany when a loaf of bread cost thousand of marks and one’s frau had to take along a cart full of cash to buy groceries for a single day.
I strongly disagree with PresBO. We do have a spending problem. We have a gazillion dollars coming in every year from income taxes and hundreds, maybe thousands of other taxes. Like you and me, the Federal government must learn to live within its means. When it does not do so, guess who ends up holding the bag? You and I…and your kids and their kids and their kids. When the Washington crowd kicks the financial can down the road as has been happening far too long, you and I are the ones down that road when the whole thing comes crashing down…while the Washington crowd sits home with their guaranteed pension cash and health care.
Think about it…and think about it really hard when next congressional elections arrive in 2014.