WHOA!!

I just heard of yet another person who lost their job. Everyone blames the economy… But what is deflating the U.S. economy?

I wonder if our escalating National Debt is one reason for a faltering economy. When you borrow to pay for something, in the end you pay a much higher price. Many people are stunned to learn their house actually costs them twice as much after years of interest accumulates.

In the case of borrowing for a house, that interest money goes to the bank. Presumably, the bank uses that interest money to compensate their employees and/or expand. But for the most part, that money remains in our economy.

However, when the government borrows money, they borrow it from other countries. Consequently, that interest money is leaving our economy. The net effect of this is to fritter away some percentage of the day-to-day expenses the government incurs. Why? Ongoing expenses are routine expenses! It makes no sense to me that, as a nation, we increase the cost of running this country by a certain percentage (in the form of interest), and then ship that amount out of our economy. For naught…

When it comes to bleeding our economy, I think the time has come to jam on the brakes.