Lyndon Furst's
A Different Perspective
"He’s Got Your Wallet!"
POSTED 7/1/09
He’s Got Your Wallet!
Political conservatives are screaming in rage these days over the spendthrift ways of the federal government. Led by spender in chief Barack Obama, the feds seem determined to throw money at every problem, real or imaginary, that comes to their attention. The response to such a situation is best illustrated by a cartoon which appeared in the media recently. It shows a caricature of President Obama with a huge smile skipping along taking money from a wallet and throwing it all over the place. A guy in the cartoon is thrilled saying, " Look, he is giving us money just like he promised." The guy’s companion has a concerned look on her face as she responds, "He’s got your wallet!"
From my perspective, the cartoonist has it right. All the money Obama is proposing to spend comes from your wallet. When Congress votes an appropriation, it comes from your wallet. When the air force requests a 350 million fighter plane, it has your wallet. When our congressman announces with pride that he is bringing federal money home to pay for a favorite project, he’s got your wallet. When George Bush gave each of us a $600 tax rebate, he got it from your wallet. All the wonderful things the government does for us comes from your wallet. But that is the good news.
So, what is the bad news? Way back in 1981 our political leaders decided to embark on a federal spending spree of an unprecedented nature. However, when the President opened your wallet he found that it was empty. That is correct, you were broke. But, what to do about all that spending he wanted to do? The simple answer was obvious: he borrowed the money. Or rather he had you borrow the money and then he took it out of your wallet.
At that time the federal debt was about one trillion dollars. For those who are numerically challenged here is what one trillion looks like in simple numerals: $1,000,000,000.00. That is a lot of debt. In the ensuing 28 years, you have borrowed money at an increasing rate until your debt is now eleven times that amount. It seems there is no end in sight.
We need to reform our health care system, we are told. One proposal would cost a trillion dollars over the next ten years. That is about the cost of the war in Iraq. You can pay for healthcare reform the same way you paid for the war: by keeping your wallet full of borrowed money. Whether you believe in global warming or not, we need to stop polluting our corner of Gods creation. That costs money which you need to borrow. Our national infrastructure needs upgrading so borrow some more money. Education at all levels needs to be improved so keep you wallet full of borrowed money. Our national defense forces must make the world safe for western style democracy and you know what to do about your empty wallet: borrow, borrow, and borrow some more!
Is there any end in sight? For my fellow optimists, let me remind you that during the 28 years of this borrowing spree, fiscal conservatives were in control for 20 years. If the conservatives cannot put an end to profligate spending what makes you think there is any hope with a liberal like Obama in charge?
The only hope is for you to get your wallet back in your own possession. You can do that by telling your political leaders that you do not want any more benefits from the federal government. Unfortunately, most people are willing to cut federal programs that benefit someone else, but they want to keep those which make their own life easier. The hard truth is that you won’t get your wallet back until you are willing to do without government services that directly benefit you. That is a tough decision but remember that every time our local congressperson brags about the federal money he has brought home, he’s got your wallet.