Who is to blame for the budget troubles our nation faces? It is not an easy question. The current budget problem took decades to create. It is a result of mostly good intentions, compassion and over-promised services. It is easy to blame politicians but the will of the people generally dictate how they act. They hear what we say. We say, “I want cuts in the budget as long as the things that benefit me aren’t cut. I think taxes should be raised just not my taxes. I want things to be different just not different for me. I don’t want less, I want more.”
We reward those politicians that promise us more, that give us more. We punish those that might want to take anything away. Politicians know this. It is the nature of the beast, they do what needs to be done in order to be re-elected.
There is new talk about making tough decisions, but yet I am still unsure. The entitlements will demand more and more of our budget until there is very little for anything else. The government will have to borrow more and more until it is unable to even pay the interest on the money that it owes. Our government will loose the respect and admiration of the global economy. I am very much afraid that the U.S. dollar may fall away from being the reserve currency of the world. That would be devastationg to our economy and lead to runaway inflation.
I sincerely hope that it never comes to this. I believe that we should gradually reduce entitlement provisions over the next 20 years. It will be painful but not as painful as the implosion of our economy if we do not take action soon. I hope that we will have some young, idealistic leaders who will manage to make tough decisions regardless of the political fallout, or maybe it will be the mature politician who wants to leave a mark on history and save the world from itself.
We are a resilient people. I believe our leaders will make the tough decisions and preserve the future not only for ourselves but for our children and our grandchildren.