I am convinced the glory days are gone forever. America has seen her best years. For the first time in history young couples are not enjoying the standard of living their parents did. In fact, most people in North America have seen their standard of living fall. The standard of living is closely tied to the quality of life we all experience. Americans no longer lead in the standard of living. We are now fifth in the world. And going down, down, down.
When a person, family, business, or a nation owes more debt than can be serviced, no one will lend them more money. Of course, individuals would be in prison for fraud, but governments don’t go to prison—and not enough politicians do. But then, Illinois does have the record of governors in the pokey. Four of the last seven Illinois governors have made or are making license plates!
No, the politicians’ answer to our horrendous debt will be to run the printing presses. Then inflation and interest rates will race each other for the moon. Our national debt will be paid off with worthless dollars. You have always wanted to live in a million dollar house, and you will—the same one in which you now live. Of course, it may cost $100.00 to purchase a newspaper and there will be few newspapers available.
While pessimism is not my nature, I see a dark cloud on the horizon. Informed Americans should make plans for some very difficult years ahead.