The America of 2013
By Steve McCann
Americans take great umbrage whenever they, as a
society, are portrayed by the residents of other nations as self-centered,
avaricious and overbearing. While an egregious exaggeration in the past, is it
an accurate description now? Who are the American people today and what sort of
country is the United States in 2013?
How does one describe a society wherein a
majority of the people, and their elected leaders, have embraced the following
mindset?
- a) The United States can commit
to unlimited government spending as the long-term future of the nation is
immaterial and will take care of itself.
- b) Based on 66 years of
unprecedented economic growth and prosperity, the good times will never
end and America will under no circumstance experience massive national
adversity as there is a bottomless pit of money to be siphoned from an
equally bottomless pit of wealth.
- c) Since the dollar is the
international reserve currency, the United States, in order to cover its
massive budget deficits, can arbitrarily create trillions of dollars out
of thin air regardless of any consequence for the nation or the global
economy.
- d) There are no limits to
personal behavior and the arcane concepts of decency, honor and integrity
are from a bygone era.
In just four years the United States has
accumulated nearly $6 Trillion in debt. The national debt is now $16.5 Trillion
or 32.5% of the world's total
indebtedness (the U.S. accounts for 5% of the global population and 20% of the annual
Gross World Product). Further, the total unfunded liabilities (state, local and
federal) of the U.S., as of 2012, exceed $238 Trillion,
or 3 times the annual Gross World Product (total economic activity of all the
countries on earth). The United States is, today, the most indebted and
bankrupt nation in the history of mankind.
Assuming other nations would still be willing to
buy American bonds and the dollar has not been replaced as the world's reserve
currency, the expected level of government spending over the next four years
will result in the national debt exceeding $21.5 Trillion (nearly 40% of the
projected world debt in 2017). Interest costs, as the end-product of having to
raise rates to attract lenders, will absorb nearly 60% of the total income
taxes collected in 2017.
However, at some point before this scenario
fully plays out, the rest of the world will no longer tolerate and subsidize a
nation unwilling to change its profligate and self-centered ways. The financial
collapse of the United States would not only have a devastating impact on the
standard of living for the average American but for the vast majority of people
around the globe.
How can a nation with any sense of decency allow
this scenario to play out? None of this is a mystery to the politicians,
academics, the media, Wall Street, major corporations and a substantial portion
of the electorate. While there may be a considerable percentage of the
population that could be categorized as "low-information" voters,
this does not excuse the actions and attitudes of these people or the balance
of the citizenry. The United States, and possibly the global economy, is being
taken apart by the avarice and narcissism of its elites and the selfishness and
ignorance of far too large a percentage of its inhabitants.
The vast majority of politicians, while paying
lip service to fiscal restraint, are primarily concerned with re-election and
continuing the standard of living, ego-gratification and wealth accumulation
that comes with elected office. They have thus abandoned their moral and fiscal
duty by pandering to the bulk of the American people who have been willingly
indoctrinated to believe that by the mere circumstance of living in the United
States one is entitled to and guaranteed a "decent" livelihood
regardless of the cost to future generations.
The leaders, as well as a preponderance of the
rank and file, within the public sector unions, are focused not only on
siphoning as much money as possible from the treasuries of the states and
federal government, but also impacting, through compulsory union dues, the
election of politicians who will acquiesce to their never-ending demands. This
modus operandi also extends to the private sector unions who are increasingly
turning to government and the elected officials they also financially support
to strong-arm their demands upon employers -- which will compel many to choose
either bankruptcy or offshore relocation.
The bankers on Wall Street, in order to protect
their annual seven figure incomes, have become willing tools for the governing
class in Washington D.C. either as: 1) foils in the propagation of class
warfare; 2) well compensated accessories to the creation of money by the
Federal Reserve; or, 3) intermediaries for massive political donations. All the
while knowing that the government has designated their entities as "too
big to fail" thus shifting any potential risk to the American taxpayers.
Additionally, far too many major corporations
and well-heeled investors have turned their eyes to the government as the
source of loans and guarantees for a myriad of investment schemes and projects.
In the search for not only money but favorable regulatory treatment, they, in
return, willingly contribute to the election of those who will not only
continue these policies but will make certain there are few or no consequences
for failure. That the ultimate objective of these politicians is to make
certain the private sector is under the thumb of government bureaucrats seems
immaterial to these so-called capitalists.
In the world of academia, the primary objective
is no longer to educate but to make certain there is no end to the ever-increasing
income stream that flows into the pockets of the institutions and individuals.
If that means saddling students with unconscionable debts or demanding
unlimited subsidies from the government then so be it.
The mainstream media has abdicated its responsibility
to be a neutral chronicler of the abuse of power. In order to sustain their
individual lifestyles and gain access as well as bask in the glow of the
ever-growing power structure in Washington, they have become the propaganda arm
of big government.
The entertainment industry, in their
determination to promote an unfettered lifestyle, has for many decades advanced
the notion that there are no limits to personal behavior. Further, since
decency, honor and integrity are passé, the entertainment complex can justify
grossing untold billions from the glorification of ever-increasing violence and
depravity. All the while financially supporting those in the political class
who claim to be in sympathy in these matters but who, in reality, are more
dedicated to the concept of an all-powerful central government -- a government
which will eventually turn on these same supporters.
Regardless of the reason or circumstance, a
majority of the people of this nation have been conditioned to believe the
federal and/or state governments will always be able to ride to the rescue in
any situation. The fact of the matter is: this nation cannot weather a severe
financial crisis as it has squandered its ability to do so.
The United States in 2012 re-elected a man,
Barack Obama, who is self-centered, unprincipled, and arrogant. From the
perspective of the rest of the world, this is increasingly the image of the
United States in 2013. While a substantial portion of the American populace do
not subscribe to or live their lives this way, a majority does. For far too
many, they do not care about what happens to their country, their progeny or
other people around the globe.
The United States is rapidly becoming the
egregious caricature first used in the 1950's and 60's -- the Ugly American.
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