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Debt needs a solution, not blame

Posted: August 1, 2011 - 8:55am

I have been watching the debt crisis debate in Washington over the last few weeks. No matter what your political views are I would hope we could all agree it’s a mess.  It’s time for all of us “regular” citizens to stop looking to Washington to fix this. If you are depending on the Republicans to fix this you will be sorry. And if you are waiting for the Democrats to fix this you will be sorry.

When we as the citizens stop acting like Washington and start handling our money like we know we should the economy will improve. What’s hurting Washington? Debt. What’s hurting most of the people here on the Peninsula? Debt. If today you had no debt and savings in the bank would all the stupidity in Washington be that big of deal to you? If you believe in the Bible it’s clear on debt. Proverbs says the borrower is slave to the lender. I choice not to be a slave. If you don’t believe the bible there are many financial people who will tell you to stay out of debt and have 3 to 6 months in cash at all times.

What would our economy be if most people lived below their income, had no debt other than their house, (and that needs to be paid off as soon as possible) had 6 months of living expensive in cash, and gave to charity every month? Many years ago my wife and I decided to live like this. The freedom that comes with it is so great I could not explain it in words. Yes, we stopped buying new cars and we drive used, we paid off and cut up credit cards, we only but toys (and yes I have some toys) in cash, when we travel we save the cash first and pay for it all in advance. When the economy goes up and down it has less and less impact on us.

Bottom line. Washington D.C. has sold us out. The Republicans sold us out and blamed the Democrats. The Democrats sold us out and blamed the Republicans. Both sides are living way above the money they took from us trying to buy votes for their own power with our money. In the end, we need to protect the truly poor, the elderly, our military, and those members of society that can’t help themselves. We can do that if and when we stop acting like Washington D.C. and start living like the Bible and our  Grandparents taught. If not the pain that will hit this country will be too great to imagine.

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silvermoon
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silvermoon 11/17/11 - 03:44 pm
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You are completely right

You are completely right about what you are saying. The problem is that people were basically lured by promises of luxury and happiness to take loans that most of them didn't need, under conditions which most of them wouldn't be able to follow up with. Yes, we all need to stop living a lie and start spending less than we make, but the banks, lenders, creditors and the rich 1% of the population need to do their share of the work too. Restricting social security benefits to the poorest is not a solution. If 1% of the population own 70% of the wealth (as reported by many news outlets) then they should be responsible for 70% of the solution. Right now the rich are only getting tax cuts while the poor are getting screwed even more than they were before. No one is saying that the people shouldn't be responsible for America's problems, but the fact that a millionaire can go on NY Times and say that he pays 15% tax while families who are barely making ends meet pay 30% is SICK!

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