The election is rapidly approaching here in the United States. Next Tuesday millions of Americans will exercise their right — and their responsibility — to vote. Millions of Americans will not bother to go to the polls. That makes me a little sad, and very disappointed.
You may be wondering what politics have to do with finances. Well, quite a bit, actually. We are at a very important crossroads in our country. I’m concerned that people will go to the polls and vote not for what’s best for our country and future generations, but for what they feel is best for themselves in the short term.
I don’t care what party you are affiliated with, if you are eligible to vote, I encourage you to vote on the issues, not on personalities or party lines, or even on your pocketbook. What you feel is the correct way to vote on issues may differ from my beliefs. I only ask that you do the research. The truth is, we are in a mess and it will likely hurt a bit to get our country back into shape.
You can’t spend like there’s no tomorrow for decades, run up trillions of dollars in debt, and then think you can balance the budget without making some very big and difficult changes.
You can’t add more free programs while promising lower taxes. The math doesn’t work. The money has to come from somewhere. Your grandma and mine said it best “There’s no such thing as a free lunch.” It’s time to agree to pay the piper, or tighten our belts a bit and miss a few meals, America. It’s time we expected our government to do what every responsible adult is expected to do: Live within its means.
Did you know that the U.S. goes $3.5 billion dollars further into debt EVERY DAY. That’s $3.5 BILLION with a “B”! Balancing the budget isn’t just a good idea, it’s mission critical. To continue to go that much into debt every day of the year will guarantee a crash like none we’ve ever seen before.
I don’t know about you, but sometimes all of those big numbers can dull the impact. I mean, how much is a trillion anyway? So, let’s put this in smaller numbers that are easier to understand. We’ll just remove some zeros. The United States has an income of $2.57 trillion a year. We’ll take 8 zeros off of that, and let’s say you earn $257,000 a year. If you overspend like our country does, you will spend $35 more a day than you earn (that’s $3.5 billion with 8 zeros taken off).
Now, $35 doesn’t seem like much. But, in one week, that $35 a day becomes $245. In one month, you would be $1,050 in debt. In one year, you would be $12,775 in debt.
Now, imagine you do this year after year after year after year… Our government has been doing that since 2007.
The National Debt as of right now is: $16,265,791,321,936.26
The estimated population of the United States is 313,794,027.
What does this mean? This means YOUR share of the national debt is $51,835.89 as of today. That’s per person; man, woman and child. So, if you have 2 or 3 children, your household’s share of the National Debt is a quarter of a million dollars. But, since the National Debt has continued to increase an average of $3.50 billion per day since September 28, 2007, that means you would still need to send a $4,071 check to Washington every year, per person, for additional debt incurred — assuming the spending stays the same.
Can I see a show of hands? How many of you are ready to whip out your checkbook today and ante up?
No? Then maybe it’s time to insist things change by voting OUT the people who can’t seem to balance the government checkbook and voting IN people who can. (Not just talking about the White House here, but Senate and Congress as well! This is a bipartisan problem.)
Please be responsible and vote. Every vote does count, and your vote can make the difference.