Deficit Spending is a Sin!
The astronomical acceleration of our national debt experienced in the past few years is beyond bad economic policy. It is literally a very serious sin. Let me explain.
(The screen grab was taken on March 9, 2024. It is of course worse now. Check it here.)
Those numbers above are sobering. What is even worse is that these numbers include ONLY the debt with accruing interest costs. It does NOT include unfunded future entitlements, which are currently estimated to be around $80 trillion dollars.
That means the REAL total indebtedness, unless we do something about it is $114 trillion. When you divide that by the 165 million tax returns in the US, the debt per taxpayer is more than $690,000 per taxpayer!
It has caused your BigMac lunch to cost more than $10. It has caused rental rates of apartments in middle class neighborhoods in cities around the country to spike above $2,000 or even $3,000 per month. It is the reason why entire generations are finding it impossible to save, and why many have to choose between food and medicines.
It is destroying the American Dream for millennials and for Gen-Z.
While you are cleaning up the vomit on your smartphone or keyboard, let me posit that this debt is much more than a giant economic problem. Yes, we are currently spending over $1 trillion per year just in INTEREST ON THE DEBT. Yes, we are adding debt to the funded $34 trillion debt at not quite $2 trillion a year. Yes, our Congress spends money like a cocaine-addict.
But why is it a sin? Because we are not spending our own money. We are stealing it from future generations. Did we get their permission to mortgage their futures in such a heinous, irresponsible way? No. It is theft, plain and simple. And our national leaders who have allowed this to happen need to be thrown out of office. If not imprisoned. They are not responsible leaders: they are thieves.
