Political Budgets

  • All around the country kids are getting out of school for the summer. For families that means that schedules shift dramatically. In just a few weeks we're going to be offering an ebook that I hope will benefit many families. We'll share the details in upcoming issues, but stay tuned!

     

    On a more disturbing note, this past week the political class has been talking about the President's budget proposal. I'm not going to get into the left/right debate. But I am going to say that we as a people can't continue to spend more than we take in without their being consequences in the future. One side says we need to cut defense spending. The other side says we need to cut social programs. Considering that we haven't balanced a federal budget in a generation I'd say that we need to cut both.

     

    The politicians will say that we can't cut these areas because people will get hurt. In my view they're partially right. Some people will be hurt. But if we don't quit deficit spending at some time in the future EVERYONE will be hurt. And probably hurt badly.

     

    I don't like to see anyone suffer. But when government spending (federal, state & local) is estimated to be just under $7 trillion you would think that we could help the truly needy, pay for sufficient national defense and have enough left over for basic government services. source: USGovernmentSpending.com

     

    I've no expectation that our representatives will actually balance the federal (or state or local) budget. They'll argue, blame each other, hype up their supporters and keep on spending more than they did last year. At least that's what they've done for a generation or more.

     

    If that's the case then we all should begin preparation for some tough financial times. I can't tell you when all the debt that's been accumulating will crash, but history shows that it will. We got a taste of that in 2008 when the mortgage debt bubble burst. Prudent people will be prepared for the next crisis. Getting your own personal finances in order will be vital. I'd like to think that we can help you do that.

     

    If you haven't already you might want to subscribe to Tough Times or Financial Independence. We'll do our best to provide you the tools to have your financial house in order.

     

    Keep on Stretching those debtfree Dollars!
    Gary


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