By Charlie Daniels and originally published at charliedanielssoapbox.com
I have no degrees in economics - or for that matter anything else - on
my wall, my academic credentials consist of a certificate of graduation
with the Class of 1955 from
Goldston High School, a lengthy tenure at the college of hard knocks and over 60 years of supporting myself.
I have never collected an unemployment check, entitlements nor any other
form of government assistance, which is certainly not a virtue, but
something I count as more of a blessing than an accomplishment and hold
no malice toward those who do, providing they have a valid reason for
My experience in the business world has all been from the practical side
and, I couldn't do my own books, or for that matter my personal income
tax return if the penalty for not doing so was decapitation.
But while I can't, there are plenty of trustworthy and capable people
who can, and after a few stumbles and glitches along the way, I have
located some very able folks who look after the financial side of my
business with honesty and precision and give me the bottom line fiscal
facts, sparing me the convoluted description of how, after navigating
the myriad of ever changing federal regulations, they arrived at them.
I said all that to emphasize the fact that while I lay no claim to being
an expert on the subject, I know in fact I learned in a very traumatic
fashion, the simple truth that you can't spend more than you take in no
matter what manner of forty dollar words and fiscal projections and
computer models you use to rationalize it.
Actually, there is no verbal or theoretical mumbo jumbo that can change
the fact that when you run out of money you're broke and when you borrow
to cover the shortfall you go into debt and when you borrow to pay
interest on the debt you go farther into debt and no matter how long
you're able to put it off, a day of reckoning is looming and inevitable.
Kick the can has long been the game of choice in Washington as parties
and politicians seek temporary financial fixes and makeshift delays to
keep the news that would reflect badly on them from surfacing before an
Well, the can is worn out, as well as the excuses, the blame game and
the veil that has been pulled across America's eyes so many times by
There is an unavoidable day of pain coming and the longer the politicians can put it off the more painful it's going to be.
To try to grasp the enormity of the national debt, try to imagine
counting all the leaves on the trees in Yellowstone National Park or
emptying out the Great Salt Lake a shot glass at the time. Unfortunately
in the last few decades we have become immune to words like billions
and trillions, as the office seekers at both ends of Pennsylvania Avenue
convince another segment of the population that they can't make a
living on their own and need to take a place at the federal trough.
President Obama says that raising the debt limit does not mean acquiring
more debt, which is just a fancy way of saying he has no intention of
cutting any of the gluttonous entitlement programs that are at the root
of America's fiscal mess.
And not raising the debt ceiling does not mean that the government has
to shut down or can't pay it's debts, but that they would have to do
like the rest of America and get by on what is coming in, which is
defiantly going to happen at some time in the future. And as I said, the
longer it takes, the more painful it's going to be and the longer it's
going to last.
The Fed is currently buying up federal bonds to the tune of eighty five
billion dollars a month; a move that artificially props up a sick
economy and considerably weakens the dollar.
When the dollar becomes weak enough that it will no longer be accepted
as the global trade currency, when we have to buy currency from some
more stable economy to pay for the imports we're so addicted to, the
props will finally be kicked out and the people of this nation, at least
the ones who have been lulled to sleep by thinking that if everybody
just paid their "fair share" everything would be alright, are not going
to know what hit them as 401Ks, retirement funds and entitlement
programs blow away like a politicians empty promises.
Is this going to happen?
I certainly hope not.
Are the pieces falling into place to force it to happen?
What do you think?
Pray for our troops and the peace of Jerusalem
God Bless America