I would like to spend the whole of my life traveling if I could anywhere borrow another life to spend at home.
The federal government now spends one of every four dollars in the entire economy. It borrows one of every three dollars it spends. No nation no entity large or small public or private can thrive or survive intact with debts as huge as ours.
We have a government that borrows $4 billion a day. We have a government that owes trillions of dollars in debt half of that to foreigners most of that to Chinese investors. I don't - that is extreme. Not only is it extreme. It's insane and it's unsustainable.
When the federal government spends more each year than it collects in tax revenues it has three choices: It can raise taxes print money or borrow money. While these actions may benefit politicians all three options are bad for average Americans.
Whether they run a record company or a grocery store every boss will tell you you're in big trouble if you're borrowing more than you can ever afford to pay back. Delaying the pain for future generations is suicidal. We've got to start getting the deficit down right now not next year.
We owe at least this much to future generations from whom we have borrowed a fragile planet called Earth.
The debt-ceiling vote isn't about what will be done in the future it is about the integrity of America's commitment to support the bonds we issue. Elected officials have an obligation to maintain that integrity regardless of whether they voted for the programs that required the borrowing in the first place.
The problem is that borrowing money to pay back more borrowed money that will oblige you in the future to borrow even more money doesn't sound kosher. Because it isn't.
What I'm concerned about is endless borrowing which is going to compromise our economy not only today but in the future. Because we know the decisions we make right now really dramatically impact us in the future and the debt is literally getting out of our control.
I have learned to live each day as it comes and not to borrow trouble by dreading tomorrow. It is the dark menace of the future that makes cowards of us.