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Illinois Entrepreneur's avatar

It is sad that the only way for fiscal discipline to occur is for something big to break. I'm watching it at the federal level, the state level (Illinois, for me) and some local levels (Cook County in my case).

It is a helpless feeling, because I know that my children and grandchildren are going to suffer because of this greed and recklessness.

The way the government behaves is the exact opposite of what every well-instructed person was taught growing up: a dollar saved is a dollar earned. Savings is a big deal, because it gives you freedom in the future. It gives you options when you need them. It makes you feel good that you don't owe someone your labor, and thus, your freedom.

As it is, we watch self-interested politicians in a ghastly game of hot potato continue to push the thing closer and closer to catastrophe. We all know it, but we collectively won't make the sacrifice.

As history tells us, this is the fundamental problem with democracy -- that we don't have the collective guts to do the right thing.

How are we going to fix this? Is the plan to just implode and then do The Great Reset?

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Jeffrey L Minch's avatar

Brilliant as always.

There is one point that requires constant repetition - the response to COVID was. as you note, shutting down economies and ballooning government spending.

The American problem is we never acknowledge this was temporary spending. The Biden Admin wants to continue to spend not just at that high rate, but at an accelerating rate.

There is no government financial restraint of any kind at a time we have to spend more on defense.

Well played.

JLM

www.themusingsofthebigredcar.com

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