I have been under the impression that we are going to cut spending to the amount that we collect in taxes and other revenue, but smarter people tell me that I am confused. They tell me that we are merely trying to slow down the rate at which we are going into debt.
The way some smart folks explain it to me, the less you can buy with $1, the less $1 of debt means. On the other hand, if $1 of buying power is going to turn into a nickel of buying power in 20 years, there is not much point in saving the dollar.
Might just as well spend it and have some fun while it will really buy something. If you cut the value of a dollar by 50 percent every year, and you raise the amount of your debt by 50 percent, you are really staying even as to the matter of national debt. But the rich who have real tangible property get richer, and those with no tangible property get much poorer, so we seem determined to make the rich richer and the poor poorer.
Clever readers have surely figured out that I never majored in economics; I never even took a single course, as a matter of fact. I still try to figure the whole matter out and I am going to look at pennies for a change. A penny is now worth more than a penny.
That sounds a little confusing but the metal in a hundred pennies is worth slightly more than $1.
At this point, you readers have surely figured out that I did not major in economics. Matter of fact, I never took a single course. (Wait, we covered that, right?)
My thought at the time was to wait and let the economists come to some sort of agreement, but that never did happen and the disagreements still exist. Figuring out an economic scheme is like figuring out which side of a mobius strip you are looking at. (In case you have forgotten, a mobius strip has only one side and I expect that is confusing to some economists.)
After realizing that I know what a mobius strip is, I hope more of my readers will admit I am a little smarter than I look in that picture of me in the New Era. One of my teachers once put it in different words when he said that I was not quite as dumb as I looked. Same difference, I think.
Anyway I am writing more for your amusement than for your edification. As my former student can testify, I get really boring when I try for edification.
TOBY HIGHTOWER is a retired educator and former Hopkinsville High School teacher. His email address is email@example.com. Write to him at 222 S. 25th St., Apartment 434, Terre Haute, IN. 47803.