Can You Afford Tomorrow?

Member Group : Guest Articles

The international outlook, both financially and politically, is in disarray at best, and on the verge of collapse at worst. Greece and Spain have been saved temporarily from bankruptcy with a European Union bailout. That can only be a temporary fix since the Euro is extremely unstable. The western European countries are suffering from national entitlements that are no longer sustainable. As these lucrative full salary government pensions and early retirements have drained the treasuries, the outlook for an economic turnaround is not promising. As in the United States, the uncontrolled growth of government can no longer be sustained by the private sector. Could we be next?

Why does all this sound familiar? The national debt is $13 trillion and the CBO is projecting a $20 trillion debt by 2015. The present debt amounts to about $186,000 for every household. It would seem mindless for a government to put the nation into that much debt in just a few years. The United States is a Constitutional Representative Republic where the government is intended to represent the majority and protect the minority. Is it working?

If we consider in round numbers that half of our citizens are registered voters and only 20 % of those, divided between the two major parties, actually voted this past election, it may be that only 5% of the nation’s citizens are installing the government we now have. The rest may not get it or don’t really care. The transition to a socialist system, as described by Fredric Bastiat in 1850, has relevance in that the same socialist ideas that destroyed France’s economy are sweeping America today. Consider our present economic malaise.

The Nation
• $14 trillion debt and climbing
• $200 trillion in unfunded entitlements and climbing
• Social Security, Medicare broke
• Welfare out of control
• The cost of nationalizing healthcare will be a catalyst to a even bigger debt
• Fed Chairman Bernanke stated the debt is not sustainable
• DOW Jones market indicators suggest a collapse may be eminent
• Taxpayers made forced contributions to banks, Wall Street, unions and the auto industry
• We have yet to measure the cost of Katrina and the Gulf oil spill
Pennsylvania
• Legislature- most expensive in the nation. A staff reduction in line with other states would save $50 million, but unlikely to occur. How many legislators will vote themselves out of a job? House and Senate work three days a week. A part time legislature would save millions more.
• Budget projection of a 2 billion shortfall and on the brink of bankruptcy without more taxes
• Public Pension crisis @$1360 property tax increase liability
• Public Schools short of funds-causing layoffs, student fees, curtailing programs

Locally
• Reading is governed by Act 47 to stay out of bankruptcy.

Governments all over the world are hoping to pass along their problems to future generations, while their constituents riot in the streets for their life of leisure to continue.

North Korea and Iran are becoming increasingly bellicose. North Korea’s president Kin Jong and Iran’s Ahmadinajad are posing serious threats to the free world. Could President Obama’s charm offensive have failed?

Islam presses its plan for world domination, while American and European governments grovel before them. Europeans have left themselves totally incapable of prosecuting a major conflict, perhaps hoping that the New World will come to their aid once again.

On a more personal level, millions of Americans who thought that they owned their properties are learning the hard way that the opposite is true as they struggle to pay outrageous property taxes to perpetuity. Millions of workers have been downsized and thrown onto the public dole by misguided government blunders yet face the threat of foreclosure.

Commentaries about home prices plunging the greatest amount in two decades, debtors defaulting on debt claiming mistreatment by lenders, foreclosures are increasing daily and presidential candidates promising hope provided by the government are all so commonplace today.

Consider that upwards of 40% of American adults do not pay any federal income tax. Nevertheless, these people continue to vote for representatives who raise the taxes of those who do. And why not? This ensures them an ever-growing list of entitlements and "rights" guaranteed by a paternalistic government.

If you’re not involved by being a member of a group or citizen organization committed to getting grips on our nation’s crises’ you may be unknowingly complicit in the demise of the greatest experiment of self governing that man has ever devised.
If you are not preparing your family for serious world political and financial turmoil you may be hoping that you will wake up tomorrow from yesterday’s nightmare. Truth be told, I wish I were wrong and it were that simple.

There are many citizens that recognize the problem we face and have loosely joined as a citizen army to be heard. On August 28th, many will assemble again in Washington at the Lincoln Memorial to be heard at Glenn Beck’s Restoring Honor Rally. Pennsylvania will be represented by many bus loads. Locally, the Berks County Patriots will be attending with several bus loads of citizens that want their voice to be heard. It’s time to consider the future.

If not now, when? If not you, who?

Rod Miller
Berks County Patriots, Vice Chairman