Senator Coburn's The Debt Bomb is a good overview of the debt problem that faces the USA and what steps are necessary to solve it. The debt crisis is real, and it will have a massively negative impact on our nation and its economy, and, thus, the world as well. The 1929 Stock Market crash pulled the world into a massive economic crisis that led to the rise of Hitler, and other dictators, and WWII. The Great Depression's impacts went far beyond economic. The actions, or non-actions, of an economy as large as America's will have a world wide effect; and, that effect can go way beyond economic turmoil. Political change often goes right along with economic chaos, and a lot of times that change isn't good for the nation's involved or the world.
Senator Coburn's book does not go deeply into the world wide mess that might evolve from a US debt default, nor does it address the world wide impact of China ruling the economic world because of a US debt debacle; however, the extrapolation is there for all to see. Our failure to solve our debt problems could easily lead to a US debt default, a withdrawal of the US from the world stage, and the rise of a totalitarian nation to take our place. There is NO free world economy or military that stands behind the USA. If we fail the free world fails. The fact that many in the USA view our system as corrupt and deserving of catastrophic collapse is bad enough. If that collapse actually happens those wishing for the worst may well see how important the US was in preserving not only the world economy but the traditions of freedom that have improved our world since 1945. A China or Russia, or a combination of the two, might not lead to a world of total darkness, but it will lead to a world where censorship is the norm and government born cronyism is the preferred business model.
The problem is Senator Coburn expects the electorate to solve the problem by calling on their elected representatives to do their job and save the financial underpinnings of the country. While he points out the problems of professional politicians, et al, he actually has no real answers for the political class buying votes, a policy which is key to understanding our problems. As long as the politicians in DC can buy votes with other people's money they will continue to do so. The fact that they have not acted on this pressing debt problem for 20 plus years is ample proof they have no incentive to do anything that might kick them out of office. The power and prestige of holding office is too much to give up for these people who are all but worshiped by those around them. Who is going to willingly give up such a role? Only George Washington was willing to take that step, and without a Constitutional Amendment limiting the president to two terms, several others would have followed FDR into years and years of holding onto power in the White House.
What the Senator does not admit is there is no answer. The Tea Party can't elect enough people to make a difference because too many people are on the dole. With nearly 50 percent of the population paying zero taxes, or getting money from the government, how can anyone break the corrupt bargain and lower spending? Look at California. After the Mexicans took over it is going bankrupt. Why? Because the people there expect the government to pay for everything and they want to pay zero into the government. Someone else has to pay, never the "lower class". What isn't going to be learned, in California or the US, is the "upper class" isn't very large and can't pay for everything and the middle class is being destroyed. The Welfare state will destroy everyone and everything we have, but the politicians do not care. Even as the nation crashes and burns they will say "it wasn't my fault" and drive away in their limousines to their vast estates to bask in the sun.
It is a wonderful warning, but it will go totally unheeded.
AD2
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