As
the national debt skyrockets beyond $16 trillion and the nation we know
and love devolves into one alien to our recollection, crippled by regulation,
where individual liberty becomes further endangered, Americans are left
with feelings of exasperation and despair. What can we do?
Within
the next decade if the government is not substantially downsized, it
will succeed in destroying most productive elements of society, leading
to greater economic downturns, a lower gross domestic product, and greater
unemployment. As that happens, as the economic pie shrinks further,
the national debt will grow at an even faster rate. Sooner or later,
jittery creditor nations will demand a higher return on investment by
imposing higher rates of interest on the money loaned to the United
States. Sooner or later, the federal government will print even more
money, adding enormously to the pressure for a resurgence of inflation.
Sooner or later as the government’s economic host, the private
sector, dies, the government parasite too will die. The process will
become most apparent when the value of social security payments becomes
little more than a token of little purchasing power. The process will
become manifest when those who provide government services, such as
Medicare providers, refuse to do so because the economic value of government
payment for the services cannot sustain the providers. The process will
become obvious when the most productive in our society leave the country
rather than accept the tax burdens a rapacious government imposes on
them.
In
short, unless dramatic reductions in government spending occur, the
whole monstrous government mess will come crashing down upon itself
atop an economy in shambles. That is clearly where we are headed, and
no serious observer doubts the direction even if he or she doubts the
time within which it will happen or the extent of the calamitous results
that will follow. If the President and Congress will not cut the government
down to an affordable size, the typical American will suffer greatly.
Indeed, the nation will be imperiled and will invite other powers in
the world, jealous of the history of American success, to exploit the
opportunity to replace American firms in international markets and challenge
America militarily.
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