If Uncle Sam defaults, would it be OK for the rest of us to do the same?
They’re (Congress) leading by example, right? We should all spend our days sitting in $1000 leather executive chairs while sucking in our taxpayer supplied salary at about a buck a minute. Life would be good, huh?
Sadly, for most of us, that is not the dream we’re living. Most Americans are in debt up to their ears. Their houses aren’t worth a third what their mortgages are. We’re cutting corners on health, security, upkeep on our homes/vehicles, etc. to get by.
Many of us aren’t even employed. Companies aren’t hiring because they’ve learned that tightening their belts increases profits. They like that. The employees who are still there are doing the jobs of the employees who were laid off… and they’re damned glad to still be working.
Interesting article in Mother Jones last month…
…it used to be a household word. Bosses would speed up the line to fill a big order, to goose profits, or to punish a restive workforce.
Increasing productivity without increasing overhead (more employees), results in increases in profit. Well, duh.
Now the word we use is “productivity,” a term insidious in both its usage and creep. The not-so-subtle implication is always: Don’t you want to be a productive member of society? Pundits across the political spectrum revel in the fact that US productivity (a.k.a. economic output per hour worked) consistently leads the world. Yes, year after year, Americans wring even more value out of each minute on the job than we did the year before. U-S-A! U-S-A!
And we wonder why there is an unemployment crisis in this country. It all goes back to one thing… GREED! Ain’t it great?
So, Uncle Sam can’t balance his books. He’s been living for too long on credit without enough income to compensate. Sound familiar? It sure does to me. Just like with Uncle Sam, our interest payments will be coming due soon.
Don’t you wish we could all raise our debt ceilings? Or maybe get our mint to print us up a few reams of Franklins? 😉
Image credits: happy pig courtesy of the OB Rag