0 votes

A Child Can Understand the Meaning of Debt

http://www.campaignforliberty.com/article.php?view=177

By Peter Orvetti
Published 08/24/09

My sons, who will be five next month, have recently discovered mathematics. They are learning their numbers, and are intrigued by the concepts of addition and subtraction. They do, however, have a tendency to guess that 10 plus 12 is "forty hundred", or to insist that there is a number called "seventeen eleven". (This has led me to question my competence as a homeschool dad.)

Even they, though, have a basic understanding of how money works. When we are at the bookstore or the toy store, they know that they cannot buy a six-dollar item if they have just four dollars. They also know that if they save their money wisely, they can afford even better things later on.

It would be nice if the government could learn this lesson, too.

It is overly simplistic to say that spending should never exceed income or saved wealth. We buy houses and pay for college through big loans, since the costs often exceed regular income. We also purchase cars and furniture and other products on pay-over-time, interest-based systems. Similarly, governments must have the capacity to allocate funding for emergencies and major long-term projects.

However, these circumstances should be the exception, not the rule. But sadly, governments overspend as a matter of course. Late Friday afternoon, officials at the White House Office of Management and Budget confirmed that they expect the 10-year budget deficit to reach $9 trillion, not the $7.1 trillion predicted just three months ago. In June, the nonpartisan Congressional Budget Office projected a $9.14 trillion deficit between 2010 and 2019, and that number could now tip into 14-digit range, passing $10 trillion. Deficits could easily exceed four percent of the gross domestic product.

Bear in mind that this is just the deficit projection, not the national debt. That number has passed $11.7 trillion, and is growing at $45,000 per second. That's more than $5,000 more than the annual U.S. income per capita -- every second.

continue reading at the link
http://www.campaignforliberty.com/article.php?view=177



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Think of it ..All the

Think of it ..All the interest from every person under the FED RES & Banking system to perpetuate that system..How much money is wasted to the Federal economy ?
Good people do Good deeds
and are no respecter of person

Children get it!

Ever watch cartoon? Most of the plots have a group of power mongers trying to take over the world and enslave the people. After a few years of public school and one-sided history lessons the children discard this threat as ridiculous and take up one side of the dialectic.

yep

a lot what we are thought in school is simply BS.
public school system is in place to create a hard working individual and not an educated one said one of the Rockefellers when I asked by Aaron Russo.

"Our planet is the mental institution for the universe."
-- Johann Wolfgang Von Goethe
"Maybe this world is another planet's hell."
-- Aldous Huxley

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Fantastic!

Do your children also realize that stealing from people is wrong as well?

I am not the author of this article

just to make sure you know...

who are you asking? us all on DP me in particular or some other entity?

"Our planet is the mental institution for the universe."
-- Johann Wolfgang Von Goethe
"Maybe this world is another planet's hell."
-- Aldous Huxley

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

My question is a general one

...for anyone reading the article from here with kids. Most people these days teach or allow their children to believe that stealing from other people is acceptable.

Thank you*))

some just loved the Robin Hood story too much...and voted for Obama...

"Our planet is the mental institution for the universe."
-- Johann Wolfgang Von Goethe
"Maybe this world is another planet's hell."
-- Aldous Huxley

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

could be

...and then whoever holds US debt will go bankrupt.

"Our planet is the mental institution for the universe."
-- Johann Wolfgang Von Goethe
"Maybe this world is another planet's hell."
-- Aldous Huxley

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15