Politicians continue to spend money with a dangerous sense of entitlement.
They believe that since they’re “America” they can do whatever they want without consequence, as if the laws of the financial universe don’t apply.
And their judgement is clearly lacking.
They already borrow money and go deeper into debt just to pay the interest on the debt they already owe.
And yet they continue to spend, often on the most destructive things like bombs, drones, and war.
They throw money at failed programs. They hire armies of bureaucrats who make life more difficult for productive citizens. And they equip legions of police and armed enforcers to intimidate the population into submission.
All of this is ultimately supported by taxes. Your taxes.
You see, the creditworthiness of any nation is underpinned by its ability to raise and collect taxes.
If investors feel like a government has an intimidating-enough system of taxation that can bully citizens into compliance, they feel comfortable loaning a government money.
It’s a very simple calculus: when the US government goes into debt, YOU are the collateral.
Nothing has changed since the days of Thoreau. The only way to kill the beast is to starve it, been saying this for years…….