Let’s suppose for a minute that there is a man named Jim. Jim is an accountant at a bank and earns right around $40,000 a year – an income that he uses to provide a house for himself, as well as food, clothing, and a little entertainment here and there. But Jim has a spending problem. He recently bought a $100,000 Lexus SUV, a new Sony flat screen TV, and every weekend (and some weekday afternoons) he spends hundreds of dollars at the local strip club. Jim, despite earning enough money to live a reasonable life, is now in debt. Deep in debt.
In fact, Jim is so deep in debt that his credit card debt alone is more than his annual income of $40,000! That’s not counting all the other debt he’s built up – car loan, house loan, unpaid student loans. Sounds like Jim needs to stop spending, right? WRONG! Jim isn’t at fault. It’s the fault of his employer for not paying him enough.
That is the kind of situation we have right now with the US federal government. The big spenders in Washington refuse to admit that they might have problem living within their means. Instead, they blame the American people for not paying enough in taxes. They don’t spend too much; you just don’t pay enough! Its an absurd notion when you break it down to an individual level and use “Jim” as an analogy. But its actually worse than that – here’s why.
Jim doesn’t have the ability to spend his employer’s money before he’s earned it. Jim can put himself in debt, but he can’t put his employer, much less his employer’s children, in debt. And when Jim eventually files for bankruptcy, only Jim is hurt – not his employer. Who is the employer of the federal government? That’s right – we are. The citizens of the US are the employers of the politicians and bureaucrats in Washington, and right now those politicians and bureaucrats are putting the debt on us. And it gets worse.
Not only are we in debt, but it will be harder and harder to pay it off. Jim doesn’t have the power to devalue his employer’s money. He can’t go out and print more, then spend it, and come back 10 years later with $1 being worth $.90! But that is exactly what our government is doing right now. Not only are we in debt – so much that we won’t pay it off in our lifetime and it will be left for our children – but our dollars will be worth less and less because of uncontrolled printing of money.
It is a sickening thought, and its no surprise that the national debt is one of the big issues in the upcoming election. To think that some people out there spend too much money and then explain away their reckless behavior by claiming that we haven’t given them enough of our earnings, and that’s why they’re in debt – what an insult! Sorry, big government! You don’t have a right to my money – which in turn is my labor. We as citizens have a duty to fund the legitimate functions of government spelled out in the Constitution. No more, no less. And the truth is that 90% of what our federal government does has no Constitutional standing per the 10th amendment.
“The powers not delegated to the United States by the constitution, nor prohibited by it to the states, are reserves to the states respectively, or to the people.” Any government agency not spelled out in the constitution has no place in the federal government and ought to be left to be run by the states. Department of education, department of energy, enviromental protection agency, the federal communications commission, the list goes on and on. Its no wonder that those guys are in debt! They are spending money like Jim – on expensive things that they don’t need. But Jim only hurts himself – our government hurts all of us.