The United States is in a fiscal crisis. Our national debt and unfunded mandates (Social Security, Medicare and Medicaid) are swiftly becoming unsustainable. Every year we owe more and more money to foreigners.
Andrew Yarrow is sounding the alarm about our growing deficits and debt in "Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility". The book takes us through the process of how we got to this point and explores options for getting us back on track fiscally. Unfortunately, that responsibility falls on the shoulders of our elected officials who care more about the next election than doing the right thing for our country. Whether you agree with Dr. Yarrow's entire analysis or not, he is right in pointing out that something must be done soon.
"Forgive Us Our Debts" solidifies the notion that the United States has become a socialist country, and the way things look it's only going to get worse. Andrew Wilkow once said that Americans want our needs to be provided by the government so we can take care of our wants. It began with FDR and the entitlements keep expanding while we go into debt to pay for it.
We don't want to fund our own health care, we want the government to do it. We don't want to fund our retirement, we want to retire early and have the government pay for it. We want big new houses and when we can't pay our mortgages we want the government to bail us out. We want cell phones, ipods, computers, new cars and new clothes. When we can't pay the bills we file bankruptcy.
It is time for Americans to stop looking to the government to solve their problems. It is time for the government to reign in spending. As Yarrow concluded "If we do not, Ronald Reagan's 'morning in America' may undergo a time-zone shift of historical proportions: if it's night time in America, isn't it morning in China?"