so the downward spiral continues. The worse things get, the
more politicians want to spend. The more they spend, the
heavier the debt load becomes and the more we have to spend
just to maintain our interest payments. As our debt load
becomes unsustainable, the alarm of our creditors increases.
It is becoming so serious
that our credit rating, as a nation, could be downgraded. If
this happens, interest on the national debt will increase
even more, leading to even higher taxes on Americans and
inevitably, price inflation.
Still, Washington is full
of talk of more regulation, more taxation and more spending.
The Senate is still struggling to pass a massive regulatory
increase on the financial sector, even as the stock market
suffers more shockwaves.
Pay-as-you-go rules give
the appearance of fiscal responsibility, but in truth these
rules are only used as a justification to raise taxes.
Spending programs like
healthcare reform, increased military spending, and a recent
doubling of destructive foreign aid are viewed by Washington
as necessary and reasonable, instead of foolishness we
absolutely cannot afford.
The people understand
this, which is why there is so much anger directed at
Washington needs to
change its thinking and adopt some common sense priorities.
The Constitution gives some excellent limitations that would
get us back on the right path if we would simply abide by
them. The framers of the Constitution understood that only
the ingenuity of the American people, free from government
interference, could get us through hard times, yet
Washington seems bent only on prolonging the agony.