Wake Up, America!!!

Young Americans and future generations of Americans will be saddled with another TRILLION DOLLARS to our already staggering debt of TEN TRILLION DOLLARS. Accepting the logic that the cost of inaction in this self-inflicted financial crisis would be much more higher that one trillion, we must begin to think about how we are going to meet these massive obligations.

Sadly, a very large portion of this collective IOU of the American people is going to be financed by China, adding to already ONE TRILLION in IOU’s they already hold. This gives them even more leverage over us.

We have become a debtor nation - a nation DEEPLY in debt at that - and the horizon looks bleak: baby boomers are retiring. This event alone will result in the largest transfer of wealth -  from the young to the elderly - in American history.  Countries don’t rise by taking from the young and investing in the elderly. Most retirees will enjoy about two decades of retirement, with their Social Security checks and, much more costs, their medical paid for entirely by the tax paying populace. This price tag is above TEN TRILLION DOLLARS alone, and we not yet even begun to meet this baby boomer burden.

Consider our trade deficit of $800,000,000 a year. We have trillions of IOU’s outstanding in the form of our dollars sitting in foreign coffers.

These are not the statistics worthy of the greatest country in the world. They are statistics of a perenially bankrupt country like Argentina.

We must dismantle the socialist state we are creating (think socialized heathcare) to stave off a  slow and sickening European style dealth of managed decline and pathetic emasculation. Americans must save again and take care of themselves.  The financial independence of the American people is critical to the independence of the United States itself. A nation of  government-teat addicts cannot lead the world. If we don’t snap ourselves of our national overindulgence we will ultimately be overtaken by more vigorous peoples, as we see can see happening so painfully quickly every day.

As the gruesome chasm between our financial capacities and our obligations continues to grow, we will be forced to make decisions. These decisions will be made under duress, a bad time to negotiate, unless we begin to act now and with determination. Two steps are absolutely critical.

1) Raise the retirement age and cut benefits.

2) Become a manufacturing country again.

Focusing on the second:  Our currency in foreign hands have to come back to America ultimately. The question is merely whether foreigners buy the country, our banks, companies and real estate, etc. or whether they buys goods from us. Let’s sell them the latter.

If America doesn’t make anything, we will have nothing to sell them but our core assets. We cannot continue to allow China to artifically subsidize its products in the form of an undervalued currency while we lose more and more of our manufacturing edge - if we even have one anymore.

The American government must begin to lay out a long term plan for American solvency.

America is getting deeper and deeper into a hole. Every country has its ups and downs, the job for Americans today is to think about the long term, and not just in selfish terms, and how we are going to ensure that in another one hundred years we remain the world’s greatest nation. It is our choice, and only we will determine the answer.

-Raj