Ben from Money Smart Life contributed this guest article. The title of his blog is fitting, because he give tidbits about personal finance and also things like how to reduce money stress. This article definitely deviates from my normal writing, since there is a political edge to it. I tend to stay away from politics because it’s not something I feel qualified to discuss and I don’t feel it affects my debt reduction. But, I’m a very laid back person and open to hearing viewpoints. That’s why I’m glad Ben sent this article. Please share your viewpoints in the comments below. If you like what you read here, make sure you visit his blog.
Every child that is born in the United States is automatically saddled with thousands of dollars of debt. I heard this unfortunate fact referred to as the â€œBirth Taxâ€ during a radio interview with a presidential candidate this week. He was referring to the federal deficit and how the total national debt divided by the number of US citizens would come to thousands of dollars a person.
What Moral Authority?
Every time I think of the enormous national debt our government has accumulated it makes my blood boil. But as I thought about the problems of consumer debt and government debt I realized we donâ€™t have much moral authority to complain about deficit spending. How can â€œwe the peopleâ€ expect our Congress to pay down debt if we can’t even do it ourselves?
A Family of Millions
We’re in charge of our own family. They’re in charge of a whole country. If we can’t spend less than we bring in while trying to support just a few people, how can we expect them to do it for millions of people?
So your car died and you had to use â€œemergencyâ€ credit. You want an emergency, what about September 11th or Hurricane Katrina? We think we have it bad, think about trying to pay for those disasters. If we canâ€™t build an emergency fund to pay for unexpected car repairs how can we cry foul when the government isnâ€™t running an â€œemergencyâ€ economic surplus?
Time for Change
Our government has had some major unplanned expenses over the last two presidential terms and racked up quite a bill. The time has come for them to exercise fiscal restraint, cut spending, and reduce the national debt. It is also time for us consumers to change our unhealthy financial habits and start chipping away at our debt. Once weâ€™re debt free we can call out for fiscal restraint, until then why should they listen to us? I know, we pay the taxes, but you get the point.
Thanks Ben for the article