What's Going On: Why we really don’t care about the national debt

 Fiscal responsibility. 

With another presidential election cycle upon us, fiscal responsibility will be one of the buzzwords the talking heads will babble about. We will hear other fun words like national debt, deficit spending and a balanced budget amendment. 

Typically, Republicans chirp louder about this issue and our accompanying $18 trillion debt, blaming Democrats and their free-spending liberal programs. 

The reality is both parties are to blame for the national debt, a fact which can be verified by noting under which president it increased. (Barack Obama is the undisputed king, followed by the guy who preceded him, George W. Bush.)

Simply stated, it’s okay for the national debt to increase if the reason for the increase is something your party supports, like health care or invading a third world country. 

In general, though, voters act like the national debt is a major problem and that we don’t approve of spending what we don’t have. 

It’s why politicians talk about it in the first place. 

But while voters say one thing, they do something completely different in their own homes and with their own checkbooks.  

In May, Americans topped the $900 billion threshold in credit card debt. That’s an average of $7,400 … per household. 

And yet, we are going to hear politicians make comments about “we need to take Iowa values back to D.C. so they can learn to live within their means, like our parents and our grandparents did.”

Right. 

Our parents and grandparents may have lived without if they didn’t have the money, but we sure don’t. A $900 billion credit card bill certainly indicates we like living outside of our means. 

We have abandoned the pursuit of fiscal responsibility for the pursuit of stuff. We believe we have a right to own a big-screen television, have the newest in cell phone technology and gaming systems and drink $5 specialty coffees. 

We work hard. We deserve those toys, regardless of whether our annual income allows us to afford them. So we “Discover” new ways to “master the possibilities” and bing, here’s your $900 billion bill. 

 And yet we think our political leaders should act differently. Let’s face it … they are simply acting like the people they represent, fiscally irresponsible. 

If you’re curious, American consumers owe a total of $11.9 trillion, including the $900
billion credit card bill. We are also carrying $8.1 trillion in mortgages and a whopping $1.2 trillion in student loans, up 8.5 percent from last year. 

With that said, I’m certainly not advocating for or justifying out-of-control spending. Fiscal responsibility and avoiding frivolous debt are essential for wealth building, whether on a national or personal level. 

Our country should have a balanced budget and carrying an $18 trillion debt isn’t the basis for a sound economy. 

But please, spare me the rhetoric about taking “(fill in the blank) values to D.C. and not spending what we don’t have.”

In this instance, we need our elected officials to lead by example and to do what we say and not what we do. 

As a society, we Americans have clearly forgotten the most basic lesson of financial responsibility: only spend what you have. 

 Gregory Orear is the General Manager/Editor of the Red Oak Express and Glenwood Opinion-Tribune. He can be contacted at publisher@redoakexpress.com.