I try to make a habit of keeping up on current events. To this end I read various news sources on a daily basis. Today’s reading brought me to the USA Today – a generally credible and decent source. However, I read something which incensed me. The article was concerning the rising debt we are experiencing as a country.
This is not a new subject or one which has been held “under the covers.” The subject comes up in conversations and all over the blogsphere. What concerned me was the sense of gloom the article portrayed. Yes, the debt is rising this is to be expected. Yes, it is at is highest levels in history, so is our national GDP, so again, to be expected. There are less and less lenders available, really? With the world in the midst of recession, why is this surprising?
There are many problems which we (as a country) are trying to reign in, and yes the debt is one of them. However, I firmly believe our weak and somewhat sputtering economy is our biggest problem which needs our attention. We have to fix the present problem first then work on fixing the rest. The Keynesian principle of the government being the consumer of last resort is in full effect – the unfortunate consequence to this is a rising national debt. However, I have to agree, the alternative is most certainly less desirable.
The old addage on how you eat an elephant (one piece at a time), is never more true then dealing with the economic problems our country, and the world, is facing today.
