Citizens will rue massive spending by government

Lee Schmidt, Hermitage

Our government enjoys complete control of our money supply, interest rates and credit markets. In a free society, government must either borrow to fund itself or force a tax increase. 

Unfortunately, our government can simply print more money or write a check against the Federal Reserve. 

The only backing of these checks is our nation’s “good faith,” given that we no longer honor a gold standard.

The essence is that government spending is unchecked by “we, the people.”

They don’t need our permission to increase social programs, give to other nations, the International Monetary Fund, World Bank or perpetuate war.

Effects of this are everywhere. Prices rise in response to massive spending and inflation. 

We’ve become a nation of borrowers and spenders. (Why save when our money will be worth less in the future?)  

We are obsessed with youth at the expense of the elderly. (Who acknowledges the wisdom of our elders or chooses to visit them where we hide them?) 

We have become apathetic about the future. We pay for homes and cars with giant loans and little money down. Fewer people attend church.  And the litany goes on.

We aren’t learning from the past. History is rife with nations debasing their money at the expense of the general public and paying their favorites with inflated money or simply lining the public coffers.

Governments eventually force us to barter with this inflated “monopoly” money.  We are permitted no choice.  Why? Because to allow any alternative would undermine their ability to spend unchecked.

No one should wonder at the motivation of Washington, D.C. politicians.