By: Warren Isleib
America is less than 250 years old, but has become an industrial powerhouse for the world. In this short time we have had partial success in forgiving racial prejudice and the misery it’s caused. We try to promote freedom and opportunity for all people. Give yourselves some credit because none of it is easy; it requires honesty and a vision toward our children’s future, not our own.
There is one issue at the heart of everyone’s concern for America. It is the root reason for unemployment, high costs, and our country’s debt which recently passed $16 trillion. To fix this problem we need to know the cause, but only 1 in 20 seem to have a clue. A recent conversation with a man struggling to survive helped explain the confusion.
His retirement income is not keeping up with costs and taxes. His explanation was to blame government for wasting the money on other things. We agreed there is a lot of waste, but he could not understand there is a shortage of money to spend. When I asked where he thought America’s money came from, he thought Wall Street markets or government printing. He has no idea, but his answers are typical.
I think everyone understands working to pay the bills, just to break even. We either trade labor for pay, or make something to sell, to bring money into the house. It is a limited amount of money so we must decide how we will spend it. A large chunk of that goes to pay off loans. America is our house, and its economy works exactly the same way. If you get that, everything you see and hear in the news will become much clearer.
How does a country have an income? It sells things to other countries; known as exporting. A country’s bills are the cost of things it buys; known as imports. The huge debt being discussed is the result of spending more than we make since the 1970s. Our exporters, the manufacturers that made money for America, were encouraged to leave the country for bigger profits. The situation got real bad, real fast.
Maybe you noticed there is less to go around? All the money in the banks, your pockets, and taxes the government collects, traces back to America’s trade. Truth is, we’ve been on borrowed time and I’m a little surprised things are not worse. We are in competition with other countries. They want us to be weak, allowing their economy to get stronger. This was permitted by a very few with political power and corporate wealth. They call themselves Americans and wear little flag pins on their suits. They chose personal profits and turned us into a work force for foreign interests.
Former New Hampshire Gov. John H. Sununu (GOP) says there’s unprecedented investor cash that will only be spent in the country if Republican presidential nominee Mitt Romney can unseat President Barack Obama this November, and if Obama gets re-elected that investment all goes offshore. Where do you think that money is coming from? Why do these foreign investors have a problem with Obama’s administration? That one is easy to answer, and tells me we are on the right path.
Big import fees have been put on high-tech materials, allowing our manufacturers to compete and develop. Well done; this was long overdue. Job loss is reversing. Investment bankers that have been selling us out and cheating on their taxes are being exposed. Waste in public-funded Medicare spending will be reduced. The insurance companies’ $700 billion unhappiness is another good sign. Koch and Rove have confessed to dirty deeds in Pennsylvania, and the amount of money spent doing them. I like the trends.
The hard fact remains. Keeping the Obama administration is the right way to go, but the average American will not experience real improvement for a while. This is tough to swallow. I am among the unemployed, with a mortgage on a house, medical bills, and barely getting by. I will never forget it was Romney and friends that set us up, and still have every intention of milking us dry. Patience and trust in Obama’s direction is the answer.