Suppose there was a person who took out credit cards and loans in your name. He buys whatever he wants, and all the bills come to you. Would you pay them? I'm thinking you wouldn't.
Yet the government does exactly that. Every day, the government borrows money -- often from sources who would like nothing better than to have influence over you -- and it borrows it in your name, with the understanding that it will make you pay it back. Are you planning to pay it back?
I'm thinking you aren't. Even if you support big government, my guess is that your support relies on a condition that you should only have to pay your "fair share," and that the really big bills will go to someone with the "ability" to pay them -- someone whose "fair share" is considerably bigger than yours. If you support big government, you're probably demanding that Washington get its books straight, starting with tax increases on "the rich."
There are only around 100,000,000 -- 100 million -- people actually paying income tax in the U.S. There are eight zeros in that.
The problem is that the credit card balance is 14,000,000,000,000. With twelve zeros.
If you're counting on the rich to knock enough zeros off of that balance so that you and all the other "non-rich" people can divide up your "fair share," you're seriously overestimating how much the rich have. Part of the definition of being that rich is that such people are somewhat rare. There simply aren't that many of them. Furthermore, being really rich -- with a few extra zeros, like Bill Gates -- is exquisitely rare. Bill Gates' entire fortune would only run the government for days. Would you really give half of Microsoft to the Chinese for another week of federal government?
I have a hard time imagining any distribution of the national debt which doesn't work out such that every American basically owes an entire house. If you're a "poor" American, it may be a small house, but it's still a house. (Seems ironic, when you consider that this crisis basically started with an initiative for everyone to own a house, doesn't it?)
A lot of people think it's important for the government to have good credit. Not me. I want its credit revoked. I want the cards cut up. I'm not seeking to bankrupt it, though that's tempting. But the federal government does need to live within its means. Our means. Your means. We've bought it enough houses.
Grover Norquist once said, "I don't want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub."
I don't know if I'd go that far, but I can tell you one thing: I'm sick of the damned thing taking out mortgages in my name.
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