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Blessed are the young, for they shall inherit the national debt. – Herbert Hoover
All democracies institute programs for current voters and shift the debt to future workers, even the unborn. Social Security, Medicare, prescriptions drug benefits for seniors are prime examples in America.
Restricting Spending is Essential for Democracy Americans Must Continue Demanding: Cut, Cap and Balance
Count the democracies that have a dangerous debt crisis: Greece, California, Ireland, Illinois, United States of America, Spain, New Jersey, etc, etc, etc.
Democracies accumulate debt because elected politicians please present voters and push the tax burdens on future generations. Universally, democratically elected politicians, from different ethnic, cultural and language groups behave the same – they give benefits to present day voters at the expense of future workers. This is an immoral abuse of power.
Politician Barack Obama vividly exemplifies the knowingly abuse of power. On March 20, 2006 then Senator Obama voted against increasing the debt-limit and called attention to the immoral future tax:
“Washington is shifting the burden of bad choices today onto the backs of children and grandchildren.”
As President, Obama has increased the debt from $10.6 trillion to $14.3 trillion, and proclaims he would veto any restraint on Presidential and Congressional power. As reported in the Huffington Post:
"Neither setting arbitrary spending levels nor amending the Constitution is necessary to restore fiscal responsibility," reads the statement released by the White House. "The bill ... would set unrealistic spending caps that could result in significant cuts to education, research and development, and other programs critical to growing our economy and winning the future. It could also lead to severe cuts in Medicare and Social Security, which are growing to accommodate the retirement of the baby boomers, and put at risk the retirement security for tens of millions of Americans."
Government debt is the challenge of our times. The Tea Partiers and the independent voter observed the need for constitutional restraints and forced the House and Senate to vote. Unfortunately, the defeat in the Senate momentarily stops necessary reform. For sure, the politicians will not self-impose restraints – especially constitutional restrictions on their power.
Again, only the persistent and constant demands by American citizens will force meaningful reform. For democracy, freedom and prosperity to survive, additional Constitutional restraints must be imposed preventing this moral wrong and the destruction of our civilization.