Government’s money management dangerous |

Government’s money management dangerous

The idea that the federal government’s money management is “different” than that of a family or business is downright dangerous to us all. It will lead to fiscal disaster on a scale much greater than bleak Detroit’s.

The essentials are the same. Money spent must be paid back. One so-called “progressive” idea is that money problems can be indefinitely pushed into the future because governments can last forever. If so, name one. Another idea is that governments can print more money to sustain spending. This just devalues the money in circulation. It doesn’t create new wealth. The third idea is to keep selling more U.S. bonds.

The promise to redeem a bond relies on trust. Trust in U.S. bonds has been built upon the work, productivity and profitability of U.S. enterprises. Yes, for awhile, we can push our debt onto nameless generations in the future, but that amounts to forcing future taxpayers, without their consent, to pay for our spending. Is that what you consider smart? I consider it fraud, a huge Ponzi scheme and shameless irresponsibility.

A trustworthy man lives within his means and pays his debts. A trustworthy government spends within its means and pays its own debts.

Marilyn Chrisman

Nevada City

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