Back during the cold war, communism and the countries that supported it, were called the “Red Menace.” It was the driving factor in many policy decisions (foreign and domestic), was the impetus to the US defense buildup, and profoundly affected thought processes of American society.
Recently, Indiana Governor Mitch Daniels spoke to the Conservative Political Action Conference, calling our country’s incomprehensible amount of debt the new “Red Menace.” I have to agree.
“We cannot deter it. We cannot negotiate with it any more than an ice-burg or a great white. I refer to the debt – the new red menace, this time consisting of ink.” – Mitch Daniels
If as a society, we recoiled from debt the way we recoiled from communism, we would probably be a lot better off. We need to change our policy decisions to reflect our abhorrence to debt. We need to build up a “defense” of savings and our thought processes should be just as profoundly affected.
It’s a pipe dream, I know, but a dream nonetheless. Just like one generation plants a tree and the next enjoys the shade, one generation can destroy an economy and leave nothing but shambles for the next.
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