The figures in these charts are astonishing, but not nearly as significant as the trend of thinking among the American people which the figures represent. For the first time in the entire history of the United States, a generation of Americans is squandering the next generation's inheritance. With the national debt at one trillion dollars, there is no way in the foreseeable future whereby this generation could possibly liquidate such a mountain of accumulated debt.
The problem is aggravated by the fact that this generation has also committed itself to pay off additional liabilities in the future amounting to approximately eleven trillion dollars. Since 1972 an effort has been made to compute precisely how extensive these commitments really are, but it is feared that they may turn out to be even more that the eleven trillion which present tabulations indicate.
The Problem of the "Fix"
O course, the Founders would understand exactly what this generation is doing to itself. It is the very essence of human nature to pursue this disastrous course once the appetite has been created to demand it. As a result, Americans taxpayers now discover themselves playing a role almost identical to that of an addict on hard drugs. The addict denounces his "habit" and despises the "pusher" who got him into it, but when he is confronted with the crisis of needing a "fix" he will plead with tears of anguish for the narcotic remedy.
The "fix" if course, is not a remedy at all. The real remedy is "withdrawal" The addict must escape from the tortuous cycle of vicious repetition which is not solving his problem but compounding it. If withdrawal is painful, at least it is not prolonged. The problem is primarily a matter of will power--the determination to change.
Every aspect of this reprehensible example applies to the mood of the American masses during recent years. Polemics against the government's profligate spending are vehement. The denunciation of high taxes is virtually universal. From banker to ditch-digger it is eloquently explained how this entire syndrome of big spending, high taxes, oppressive government regulations, and moutainous debt is stifling the economy, inhibiting the rate of production, and stagnating the wholesome development of the traditional American life-style. Yet, with all of that, any Congressman will verify that is has been, at least until recently, almost political suicide to try to change the trend. When it comes to cutting programs and reducing costs, balancing the budget, and eliminating deficit spending, it is amazing how few will make the necessary adjustment without the most violent outcries of protest when it affects them personally. But then, this would come as no surprise to the Founders. It is called "human nature." They would know that the only solution is to develop the will power to make the change. This is not easy, but it can be done.
How Can the United States Return to the Founders' Formula?
In recent years, the number of Americans who have become reconciled to the inescapable necessity of returning to the Founders' formula has risen to millions. The very circumstances in which the American taxpayer finds himself are sufficient to awaken many to recognize the fiscal bottomless pit into which the nation is sinking. The vivid shock of that realization is precisely what is needed to arouse the majority of the people to the point where they are willing to go through fiscal withdrawal and kick the habit of splurge spending.
However, Congressman, the President, and the taxpayers are all asking the same question: "Is there any way this can be accomplished without our going through the wringer of a deep depression?"
This writer believes that there is, By returning to the fundamental principles espoused by the Founding Fathers, we can reverse the trend and get America back to a formula of prosperity economics without a major crunch or depression. The outline for such a plan has already been submitted to the appropriate channels in Congress, and these proposals will be included in a forthcoming book entitled The Healing of the Nation.
End of Part 4
We find ourselves in such great debt that all Americans are going to have to make tough choices. We in the near future cuts may come to all departments of the government because the debt is putting the country in grave danger. I'm sure it will take a new President in order to begin to solve this problem, Obama clearly has an agenda of similar to Roosevelt too spend and spend and spend and spend.
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