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U.S. Worse than Europe? September 22, 2012

Pray for our LeadersOne evening during the NQC, Claude Hopper stood on the Freedom Hall stage and made an impassioned plea for every citizen who’s eligible to vote to do so. I don’t remember all of his words, but do remember him saying that there are 545 men and women in Washington – the President, members of Congress and the justices of the Supreme Court – who make the decisions as representatives of the 311 million persons who live in these United States. And, their actions determine our future … and we had better make sure that the ones we elect/re-elect are the ones we believe and trust to act in our best interests. And, we must step up and hold them accountable!

We spent a couple of days in Toronto in mid-August, during which I picked up a Canadian newspaper I’d never seen before, the National Post, and one of the first things that caught my attention was the headline at the top of this page!

It was a commentary written by Jack M. Mintz and carried a sub-heading stating

EU is dealing with its fiscal crisis, but U.S. seems paralyzed!

Professor Mintz is the Palmer chair at the School of Public Policy of the University of Calgary, Alberta.

I will post a few key statements from the article here, then give you a link to read the entire “rather frightening” column … which begins with:

At a European conference on the sovereign-debt crises that I ­attended this week, my overwhelming conclusion, after listening to many experts, is that the U.S. is in far more trouble than Europe.

This was brought home by calculations presented by Larry Kotlikoff of Boston University at a lecture held at the International Institute of Public Finance, the biggest gathering of public-finance experts in the world. Greece may be bankrupt, but the U.S. looks like a giant Ponzi scheme.

The U.S. reflects the most extreme case of intergenerational inequality. Generation after generation has participated in a Ponzi game, leaving younger taxpayers to pick up the tab for money effectively borrowed by older generations to spend on unfunded benefits. Kotlikoff labeled such practices as ‘child fiscal abuse,’ a rather strong term but not far from the truth.

Yet, the answer to the fiscal dilemma is not another fiscal stimulus that adds to a mountain of public debt, as pushed by some economists like Paul Krugman. Instead, debt-ridden economies must embrace structural reforms to the public sector that will lead to better economic growth without pushing economies into a recession.

The United States should be ashamed. While many experts criticize the Europeans for not pulling together politically, U.S. indebtedness is far greater and more dangerous to the world economy.

Since then, I’ve seen the issue brought up to some extent here in our country, but not in such “straight ahead” terms as Mr. Mintz does. Here’s the link to read his entire commentary:

This is not meant to be a political commentary … simply one to communicate that our supposedly strong and great nation has a severe challenge that’s not going away until it’s honestly and openly addressed and dealt with! It’s not about Democrats vs. Republicans vs. whoever … it’s about the future of our nation! If our leaders don’t take the necessary actions, the consequences could be more painful.

As my dear wife of 37 years, Alicia, reminds me when I get fired up like this … our nation and the world is under a massive Satanic attack unlike anything anyone alive has experienced … and that we Christians need to turn to the Scriptures and prayer, to seek the guidance of our Lord on how and what each of us as individuals need to be doing to help “right the ship.”

Oh Father …. “enlighten” us as we seek your will, as we pray that you will speak to our hearts and guide us . . . as we know that You are the only true hope for our nation.


Afterthought: King Solomon wrote in Proverbs 3:5 … “Trust in the Lord with all of your heart and lean not on your own understanding!” Conversely, he speaks of a “fool” … or being one … 26 different times, such as in Proverbs 28:26: “He who trusts in his own heart is a fool, but whoever walks wisely will be delivered.”

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