Okay, maybe I’m a jerk. Maybe I’m missing something. Maybe I’m just old fashioned and out of touch, but what’s wrong with this headline? What’s wrong is that it’s wrong. That’s right, it’s wrong. No, I don’t mean that “alarm bells” didn’t sound with the downgrade of the U. S. credit rating. What I mean is that the alarm bells are going off after the proverbial horse is out of the barn. It’s after the fact. The alarm bells should have been going off for years and no one was paying attention.
The citizens certainly weren’t paying attention. If they had been they would have held Congress accountable to deal with issues like this.
The credit agencies weren’t paying attention. If they had been they would have been screaming years ago that the U. S. has been on a path to destruction and should turn around.
The politicians weren’t paying attention. If they had been they would have stopped spending habits that are worse than those of drunken sailors. (Okay, I have to apologize here to drunken sailors because no drunken sailor has ever been as stupid with their money as the U. S. Congress has been with our money.)
What part of this can’t people understand? There is NO difference between a government, a business, or a family budget other than size. Money comes in and money goes out. You have to spend less than you earn or you’re in trouble. You can’t borrow your way out of debt. If you could, why wouldn’t the “experts” be recommending that everyone go as far into debt as they can? It makes no sense.
But we can’t just blame the idiots in Washington. We, the citizens should have held them accountable. We were too busy, though, living our lives and not paying attention. In fact, most Americans were not just living their lives, they were doing it in a similar manner to the way Washington handles money and now they, too, are struggling to survive.
How about your business? Is it in debt and struggling to survive? Have you fallen for the old trick where the banker says you can borrow to grow your business? Guess what, he’s just trying to sell you on borrowing from him. And that’s what his business boils down to: getting you further into debt so his bank can make money on you. He’s not there to help you no matter what he says. Debt will kill your business, your personal life, and our country.
The Bible says that a borrower is a slave to a lender. (I don’t care whether you believe in the Bible or not. The fact is that it’s the greatest work of written wisdom in history. Those who don’t agree haven’t spent time studying it.) And the last time I checked, no one wants to be a slave. So why would you want to enslave yourself to some bank? And yet we see it done all the time. If you are smart you will work hard to get out from under that yoke of bondage and be free of it.
Work hard. Pay off your debt. Take control of your business and life. When you do you will find you can survive during tough times when others are failing.