Pay me NOW or LATER !

I dedicate today’s narrative to all who voted for Joe Biden and the Democratic ticket. Unlike many of my previous blogs, articles, on this subject, how about if we, today, were to leave-out anything and everything that has the words Socialism and/or Communism in it? – be that as difficult as it may. How about if we look at what lies ahead exclusively from an economic vantage point? How about if today we talk solely about how our esteemed new president-elect intends to handle our domestic economy situation? How he plans to spend our hard-earned money.

And why not start on this exploring exercise from the simplest, plainest, and easiest foundation possible? I think you will all agree with me that, be it a person, a government, a financial entity, whatever, anytime you spend more than what you earn, there will be a deficit, won’t it? And, eventually, when deficits are sufficiently steep, there will come a time when people, government, and financial entities, will end-up bankrupt, insolvent – simple economics, agree?

Alright, so, to begin with, guess who will be Biden’s chair of the Senate’s Budget Committee? Ever heard of a guy by the name of Bernie Sanders? You know that guy that embraces bigger government and more federal spending with borrowed money. Yes, that is him alright. So, anyways, our revered, most gifted, smart, and benevolent president elect’s very first action as he takes office is a proposed $1.9 trillion dollar stimulus proposal which he unveiled last Thursday. Biden’s so called “American Rescue Plan,” includes, among other things, a $1,200 allowance for spouses of “undocumented” immigrants without a Social Security number. Generous, very generous.

I will spare you the rest of the proposed expenses on Biden’s package. Let us just say, it would be the equivalent to you and me, and our good neighbors to go on a spending spree as if we had all won the lottery, without really winning it. As though we had, all sudden, decided to buy ourselves whatever suited our fancy and charge it to a credit card which was already maxed-out at its limit.

O.K., so let me explain how this whole thing works. For the average Joe Blow, for most all democrat supporters, Biden’s plan comes as “a blessing in disguise”. Biden and the Democrats, are the best that has happened since “Coca-Cola.” Don Quixote, Mother Teresa, and the fairy godmother, all pale in comparison; they are all like villains compared to Biden and the Democrats, right? Hey, why not? Anytime we get something for nothing in life; anytime we get an undeserved gift, a handout, an endowment, we should be grateful for it, should we not? And we should – only problem being, what if the “giver” had asked us to pay it back? What if we thought we were getting something for nothing, but in truth we would have to pay it back eventually? What then? Would you be as grateful, as thankful, and as appreciative as you were before you knew you had to pay it all back?

Well, guess what friends? What is happening with this generous Biden relief package is exactly what I said before. Ever heard the expression: “pay me now or pay me later.” Rather than deal in abstracts and innuendos, why do not I give you a quick rundown of the truth, the whole truth and “nothing but the truth”, so help me God.

Truth No. 1 – the U.S. Published National Debt now is $27.7 trillion dollars; however, the real, non-published debt is more like $138.6 trillion dollars, which means that each American taxpayer’s share of this debt, you, and me, is $899,000 dollars. I do not know about you, but I certainly cannot afford my share of this debt. So, let us keep this to simple math. If we add Biden’s proposed relief package to the existing debt, that means the revised new total would be $139.9 trillion, which means that our personal share of the debt would be $907,000 dollars per taxpayer. I still cannot pay it.

Truth No. 2 – As we speak, the United States of America has Assets of $3.99 trillion dollars and Liabilities, including Biden’s new package, of $139.9 trillion, for a net Loss [Deficit] of -$135.9 trillion dollars. So, what is the point I am trying to make here? Alright, so, first, imagine what would happen to you and me if, to pay our share of the debt of $900,000, we were go get ourselves a printing press and just go out and print whatever amount of money we needed. You know what would happen, don’t you? Before we could even blink an eye, we would be wearing one of those nice orange or striped outfits typically worn by those in our society who are locked for not being so nice, right?

Vis-à-vis, what do you think will happen to those in government if they, likewise, would print whatever money is needed to pay our national debt? What if government went out and printed these $135.9 trillion dollars in some back-room? Well, maybe not a back-room, maybe a more sophisticated printing building, but…nevertheless, that is precisely what they have been doing for some time now. Our government friends have been printing money which they do not have, more so, at a time like this, with a “pandemic” that has all but nullified a good share of the government’s income.

Now, having said that, you and I know that neither Biden, nor Congress, nor our government will go to jail for printing money as you and I would, right? I do not think so – matter of fact, quite the opposite. As I said before, unlike going to jail like you and I would, instead, we praise them, we salute them and we show our gratefulness, right? Can you just imagine our legal system thanking you and me for printing illegal money in our garages? Do not think so.

So, now that we all know that there are no consequences to government for printing money, why do not I just tell you who ends up paying for their “misdeed”. What if I told you that you and me, our children, and grandchildren will eventually pay for everything? I will put it very simply. Printing of more money by government, simply said, spreads the value of existing goods and services around a larger number of dollars. This is what is known as “inflation.” Ultimately, inflation, doubles the number of dollars – doubles the cost of living. If everyone has twice as much money as before but everything costs twice as much as before, people aren’t better off, are they? In addition, other than printing money to compensate for our deficit, worse even, our only other alternative is to borrow money. And who do we borrow from? How about Communist China? Happening right now, as we speak.

Make a long story short friends, let me tell you what is likely to happen with our Democrats’ benevolent, altruistic, and sanctimonious endowments. Again, ever heard of the saying: “pay me now or pay me later.” The deeper our indebtedness, the worse we are as a nation. Eventually, at some point in time, in the not-too-distant future, we will go bankrupt; we will go out of business – no two ways about it friends. So…ask you may, what can we do about it all? Can we come of this hole we are in and spare our nation the eventual economic catastrophe that awaits us? Answer is: Yes, we could have, but we did not, didn’t we? We could have elected a Donald Trump as our next president, could we not? Matter of fact, a Donald Trump who was our only hope for a prosperous economy, such as the one we were enjoying prior to the pandemic – an economy aimed at improving our income to balance our debt, rather than spending, printing, and borrowing money which we just do not have.

Then again, to all of you who voted for the Democrat’s ticket; to all of you grateful comrades for Biden’s prolific stimulus package, good for you. Cheers! Cheers to our righteous, generous, and charitable government. Maybe some of you Democrat supporters out there will help me, my children, and my grandchildren payback for our share of the debt you have just made us involuntarily incur. I, sure as hell, cannot help you pay yours. May God save us and may God save the United States of America.