So why is the richest and most powerful country in the history of the world teetering on the brink of possible financial disaster?
As with all complicated problems there is no one simple solution. But if the current financial impasse tells us anything, it is that far too many politicians can no more control their urge to try to please voters by approving uncontrolled spending than final-stage drug addicts can control themselves.
A balanced budget amendment might not be a perfect solution, but may well be the only way we can avoid the disaster that will almost certainly occur if we don’t stop spending money that we don’t have like junior high school kids with unlimited credit cards.
In truth, unless we put our country on something like a long-term wartime footing, forcing everyone to share in the sacrifice of paying off our debt, it will not happen. (Good luck with that.)
The nearly $1 billion a day we are now paying for interest on the national debt would be far better spent on replacing roads and bridges here in America rather than in China.
Term limits anyone?