This is all beside the point, though. The uplifting topic for today is national fiscal responsibility, the national debt, and what we are going to do about it. First, some data:
- 47% of US households won't pay any income tax at all this year.
- Most tax revenue comes from a small percentage of people with the highest income.
- (Or here, presented graphically.)
- The National Debt clock (and links to related stories).
- Holders of the national debt and how it has grown over time.
- National debt over recent past.
I don't put this data up to simply give people something to worry about. I truly believe this is a very serious problem that has been effectively ignored for several decades. We are on an unsustainable course that needs to be corrected. Sadly (but fairly) I think that the solution will involve increasing taxes (sorry Tea Party) and decreasing spending (sorry social welfare and defense people). In other words, we've dug ourselves into this hole and the path out is going to be painful.
To help keep me honest and the conversations on-track as I bring this up with friends, I'm starting to think of the solutions to this problem in terms of the sacrifices that I need to be willing to make. Rather than looking at the problem as a whole (which needs to be done), I'm trying to think of it very personally. What government benefits do I need to give up to get our country back on track financially? How much more taxes will I need to be willing to pay to make this happen? What tax credits and deductions that I enjoy now should I surrender so that our country can be fiscally responsible? Being an academic, which research and development programs that I care about should lose their federal funding?
For each of us, the answers to these kinds of questions are different. There are some that are going to have to give up federal subsidies (Medicare, welfare, etc). Others will be paying a lot more in taxes. There will probably be federal employees who will lose their jobs in the government's attempt to control spending. Its not going to be pretty or fun.
It needs to be done, though. It may not seem like it to some, but these past few decades have been ones where we as a society have ignored the financial costs of the federal fiscal lifestyle (if you will) we have been enjoying. The time is coming when we will have to face these costs and the sooner the better. The first step is always admitting you have a problem.
I encourage you to write your federal Representatives and Senators. They will only be motivated to action if we make it clear that this is important to us. Vote accordingly. The attitude of the federal government is a reflection of the attitude of us, the people. We can't expect them to act responsibly until we take responsibility for our own actions and choices. Until we are upset enough with the situation to actually do something about it, we can't expect them to do any better. Doing something can start with a simple letter or email.
If you are a person of faith as I am, pray for our nation. I have been convicted lately of just how desperate a situation we are in (beyond but including our finances) and have begun to ask God to work in the hearts and minds of others and help save us from our own self-destructive desires. For the USA, a nation that has enjoyed tremendous financial wealth, to be willing to accept a lower standard of living for the sake of our country as a whole will take a miracle.
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