Expecting the federal government to solve all social woes led to the downfall of the American society. It began socioeconomically when under the Johnson Administration the snowball began rolling downhill with LBJ’s “Great Society” the idea that deficit spending to guarantee income against poverty mainly for Blacks in the decaying inner cities became an effective voting base. The federal government threw away trillions on the “War on Cancer”, “The War on Drugs” and all the other ill-advised taxpayer funded programs that became perpetual fiscal bottomless pits. The stage was set for the compounded deficits that would lead to the US financing its own debt by borrowing foreign money to the point where other countries carried the inability of the US to pay its bills along with the growing interest that was accumulating!
Equality of the sexes or a con job?
David Rockefeller admitted that the entire ulterior motive of women in the work place to prove they were as good as or better than men under “Women’s rights” was a political narrative started by the federal government so that both adults in a married household would go to work and pay income tax. Now the federal government could bank on doubling the income tax on a married couple and would surely squander that extra funding under the rabbit hole of federal fiscal mismanagement. Rather than use that added income tax revenue to pay off the deficit this would simply lead to expanded federal government social programs and needless fiscal waste.
Buying votes through deficit spending
As President Reagan found out after forming the Grace Commission that the Congressional budget did not consult or correspond to the federal collection of taxes and lawmakers deceived the American people into thinking that income taxes pay to run the federal government when they don’t! Not only is income tax an imposed expense upon the public as the cost of burden, but there are so many intrastate taxes imposed upon industry such as the gas and oil business that income tax is only a small part of the inflow of government income. Once a federal entitlement is launched it’s impossible to take it back or terminate it. So, the gigantic welfare state created by Democrat over spending ended up creating dependents especially for Black Americans for generations to come replete with the graft that resulted in millions of government dollars going to dead recipients, persons with several social security numbers, and thieves who know how to manipulate the system.
The growing debt monster
As the debt grew so did the size of the federal government fraternity of overpaid and many times unnecessary employees hired more by cronyism rather than true need. People forget that the federal government is a monopoly that does not have to be cost effective, competitive with the free market, or accountable for itself. Today we own more than a trillion to the Communist Chinese alone who have purchased US debt through buying Treasury notes, but that’s just the tip of the iceberg as US debt has been bought by Mexico, Japan, Canada, and many other foreign governments! So the elephant in the room has grown two fold through expansion of debt and expansion of the size of an out of control government.
Stripped of alternatives
Where does that leave future generations of young Americans? We already have a shrinking US dollar all as a result of federal mismanagement! We have an unstable banking system that left up to the Federal Reserve as the oversight agency allowed SVB Bank to reach insolvency after issuing nothing but a warning back in 2019. During the Obama Administration began Quantitative Easing policy by the Federal Reserve, floating a Democrat economy on zero interest loans in order to spend our way out of a recession or another economic bubble. The result was more US dollar buying power lost and more consumer pain at the retail level. What does the future hold? As Senator John Kennedy of Louisiana said, he had learned a lot from talking to the heads of the Federal Reserve, but had not gotten any answers!
In 1973, a carpenter making $7.50 an hour could afford a house payment, a new car payment, and could afford a family with the wife the home maker. Now that’s not even minimum wage in most states and the cost of living has risen disproportionately upward since then with wages and dollar buying power falling far behind. Our founding fathers knew that this would happen if the people failed to pay attention to what their government was doing, and the 3 levels of the federal government did not offset one another with oversight and defense of the US Constitution. This is the current state of a nation floundering due to its own government!
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network