This morning I was going to be diligent about getting my housework done before I got to my computer. I have been so busy since I have got back from Australia that household chores have been neglected. Once I get in front of the computer that’s it for the housework—it doesn’t get done.
Well it looks like it may not get done again today. The reason is, I am feeling angry and frustrated, and here’s why: I was watching Fox News this morning after I got back from the gym and settled on the couch with my coffee. British-American economic journalist, Stuart Varney came on to discuss the financial state of America.
I was feeling good about the day until the subject of the economy came up. Politicians are talking about adding 1½ trillion dollars to annual spend as if it was nothing. However, Varney laid out in very simple terms what kind of trouble we are facing. For every trillion dollars added to the national debt it will cost America 50 billion dollars per year in interest. Simply stated, that’s one billion dollars per week interest for every additional trillion that the USA owes in debt.
These figures are ineffable. How is this country ever going to lower that deficit and stop over spending?
The analogy for me is, if you have a business and nothing on the shelves to sell, how are you going to make a living and how are you going to pay your debts? The USA has been so busy consuming and passing their manufacturing and any form of productivity to countries like China that we no longer earn any income of any substance. We have been borrowing to keep ourselves in the lifestyle to which we have become accustomed. Now we owe the world over 12 trillion dollars. The USA has been living beyond its means and has been living on credit for years.
Wake up America you are not going to be able to pay your debts. Each year we spend more than we make in revenue, that’s called the deficit. Each year the deficit gets larger and each year’s deficit adds to the national debt, which is now over 12 trillion dollars. Does America have to reach rock bottom before there is any turn around? It appears so.
It’s one thing to rant, but it’s better to discuss the solution. What’s the solution? The government is out of control, but you don’t have to be. This is what you can do to contribute to your own well-being and security—get yourself out of debt. It should be your priority for your own future. Teach your children to stay out of debt. There may not be a job for them to pay off their debts, so teach them not to get into debt in the first place. Desperate times call for desperate measures.
I am often asked why I wrote my book and I don’t always have the answer other than I saw a need 2 years ago to help people become debt free. I decided not to talk about it, but to do something about it. All the tips and strategies I wrote in Simply Fantastic: Living Better on Less are all small easy doable changes. The first step to getting out of debt is to spend less than you earn. Cutting your cost of living is important to increase you monthly income surplus. Then you can use the surplus income to pay down your debt and get debt free. Just do it! Start making changes in your life now to get yourself out of debt.
I am not writing this just to sell my book. I have written what I know to be true but there are other books on the market too that have additional information. Everyone in America needs to do their homework, and believe me and many others that are warning you, that there is big money issues ahead.
My last point, back on the government, is that you need to realize that the government cannot give you anything that it doesn’t first take from someone else by force. I hear many people in America talking about the proposed health care bill, but what I don’t hear is how the government is going to be able to pay for it. America is already broke and adding 1½ trillion dollars to the annual deficit will only hasten the demise of this great country.
There is no such thing as a free lunch. In Australia and New Zealand the taxpayer pays dearly for the privilege of having a “free” health care system. It’s not free, it’s not available without big waiting lists, and most Australians now have private medical insurance in addition to the government health care because they cannot rely on the system to give them the service they need.