Monopoly is a fun (or not) board game
that remains inflation-proof. Almost all of the Monopoly dollars are in
ones, fives, tens and twenties... which today will buy you a small bag
of groceries in some cases and not enough lottery tickets in every case.
A fancy Monopoly hotel on Park Place is an outstanding value at a mere
mere $200!
I seem to be king of
Orient and
Baltic Avenues... the Monopoly slums, thanks to my special dice throwing talent, honed by hours of practice and playing Bunco.
I'm also good at
Go Directly to Jail, much to the delight of grandchildren. But I'm best at
Income Tax and
Luxury Tax. I usually end up owing everyone else. But hey, it's only Monopoly money, right?
Lucky I'm not the United States. (Oh, I am... and so are you.)
By
2030, says the Congressional Budget Office, "the projected federal debt
held by the public (us) will exceed $31 trillion, or about 98 percent
of the forecast size of our economy." This fiscal year our debt will
exceed $1 trillion--26% more than budgeted--and continue to do so for
the foreseeable future.
Why, you may ask. Say the non
political government overseers, "When the government cuts taxes and
keeps spending money, it builds up debt. And the United States has
become a textbook example. Blame low interest rates, as well as Mr.
Trump's 2017 tax cuts, and increased government spending."
Do
you have any idea of how much $1 trillion is? It is $999 billion, 999
million, 999 thousand, 999 hundred, 99 dollars and 99 cents...plus a
penny. Written it is $1,000,000,000,000... or, as I like to say, chump
change.
It's chump change to us because we are the
chumps allowing this to happen. It is us that pays the interest--estimated
at $600 billion this fiscal year--which doesn't pay down a penny of the
debt--and eventually, the whole banana is ours too. The interest due this year is comparable to
our military budget which is larger than the military budgets of the
next seven largest countries, dwarfing China, the second largest.
Amazing, isn't it?
The
interest alone should be paying for a dramatically needed
infrastructure repair and upgrade of our roads, bridges, the grid and all
those needs we take for granted. It should be allowing us to get a
serious jump on the life or death global warming catastrophe that is on
us. It should go to every phase of education and preparation for a very
current need and different future. It should allow for all, almost any
health system that works across the board. It could (insert your own pet project
here).
As the richest and most blessed country in the world, we should do better for everyone... much more than just the very wealthy. So
trickle down, you guys if that's how it's supposed to work. Good luck with that.
The
biggest reason for the jump in deficit spending this year and
continuing are the 2017 tax cuts that were promised "to pay for themselves."
In this very first full year, tax payments have fallen $400 billion
short of projections. More than that, federal government spending is
growing twice as fast as its revenues.
Almost every serious economist agrees that the growing deficit is unsustainable.
Regarding
the highly touted tax cuts, the average American benefit is estimated at
a very modest $1,000/year, which may help keep abreast with inflation but hardly anything
else. But for the billionaires, it works DRAMATICALLY better. The gap
between US and THEM is wider than it has
ever been and broadening
every year. One of the richest men in the world, Warren Buffet, noted a
few years back that he pays less taxes as a percentage of his income
than does his secretary.
Is that how this whole thing
should be going down? If so, then, like the Titanic, we all go down--the
rich and poor--with the few scragglers left in a 'survival of the fittest' mode.
Er, excuse me now, it's
my turn in Monopoly and my kids, who I love dearly, are beating the
pants off me. Thankfully, this is not real life... or is it?
Ed. note: In our 2016 elections, CNN's recap showed only 57 % of us that believed voting was important.
- Clinton received 65,853,516 votes.
- Trump received 62,984.825.
- Nobody:120,000,000 +/- did not vote.
With
our lives, our children's lives, our health, our economy, our world on
the line, surely we can...we must do better in 2020. We don't have much
time left... and I don't mean time before elections, I mean time before
we start falling off the non recoverable edge, if we are not already
there.
Anyone who chooses not to vote
for any reason, casts
a ballot for their least desirable/most disliked candidate. That's like
staying on board the Titanic because your side is not sinking.