Economic Risks….Government Monopoly and A Cookie Jar!
Senator Evan Bayh (D-IN) announced on Monday that he will not be a candidate for a third six year term as Indiana Senator, a seat also held by his father, Birch Bayh, from 1963 thru 1981. Dan Quayle held this seat after the senior Bayh’s 18 years. He subsequently gave way to Dan Coates, a possible Republican candidate, who served from Quyale’s departure to run as George Bush 41′s through to Evan Bayh’s election in 1998.
The reason given for Bayh’s departure is truly a dichotomy. On one hand it seems that he is being disingenuous, given the precipitous decline in public perception of politicians in general and democrats in specific. His seat would definitely be a hotly contested race with a great possibility that he would not be returned to D.C. On the other hand, his comments are spot on. All elements of government in D.C. are in disarray with the interests of the nation being compromised by politician’s arrogant self serving focus on power and re-election.
Bayh is not the first, nor will he likely be the last who comes to the pragmatic conclusion that re-election would be improbable of not impossible and therefore drops out. The election of Scott Brown (R-MA) to replace Senator Ted Kennedy (D-MA) was the 21st century “shot heard ’round the world” in national politics. 2010 will likely be a year of political upheaval……thankfully
Out of control, unfocused, drunken sailor spending…….with unintended economic consequences greater than real economic value is the focal point of the explosive anger of the voters today. Verbiage designed to obfuscate both political intent and outcome risk, makes an understanding of our economic condition difficult. Politicians normally get their way when this happens…..but not today. People understand that if you out spend your earning capacity it will ultimately bite you in the butt……and the mongrels have us tightly in their pearly whites.
A couple of numbers will put this in perspective. Our nation’s debt is about 80% of our Gross Domestic Product (G.D.P.). This means that we owe an amount almost equal to our total annual national productive capacity. Could a family last long under this situation. Add to this the fact that that 50%+ of our debt is owned by foreigners. Who is the idiot, them or us? There is an adage that if you owe an entity$100 you are a debtor. If, on the other hand, you owe the entity a million dollars you and the entity are partners. This puts us in partnership with the Godless, communistic country of China, the major holder of our debt.
Politicians have played monopoly with our present and future and used our money as their own personal cookie jar. Get out your chopsticks….apply for a rickshaw license…we could be in for a rough ride.
