We’ve been spending so wildly for so long that we do not even notice the deleterious effects of it. People often ask me, “what’s the big deal” about the deficit? What’s going to happen, they ask, about the national debt? Many people do not think that we will ever pay back the debt: under President Obama’s budget, they would be right. We wouldn’t pay back a dime—it’s just free money.
But everyone who has actually run a business and made payroll knows that money always has to come from somewhere. If you simply print more of it, its value goes down—you’ve accomplished nothing.
Why are people not afraid of this crushing inflation? How can we take this also for granted? People often remark and joke about how cheap a loaf of bread used to be, but never realize how harmful it is that the dollar has been so weakened.
Fear is sometimes appropriate, and this would be one of those times. We should fear skyrocketing debt and its consequent inflation; we should fear the disintegration of the family in our society; we should fear cuts to our already over extended military.
What we shouldn’t fear? The Ryan Budget, for one thing, which doesn’t even balance this decade. This is hardly a radical proposal—it’s only radical compared to our Far Left president.
To my Democrat friends, who believe so strongly in the virtue of big government, I say this: perhaps spending cuts could actually make the government work better. Maybe if a government agency couldn’t simply borrow and borrow indefinitely, it would be forced into efficiency. We can certainly agree that infinite spending does not encourage efficiency; why be so afraid of cutting the deficit, of approaching a balanced checkbook?
All this fear- mongering from the left has got me afraid.