A lesson we all should have learned in High School

How many times do we have to go over this?  How many times do we have to explain simple economics?  You borrow.  You pay back.  Typical credit lending terms.

Please pay attention.  The United States during George W Bush administration borrowed about four trillion dollars to pay for the two Middle Eastern wars.  Okay?  Borrowed from China, Japan, India, and mostly from the federal treasury.

Then on top of that GWB cut revenue into the treasury by reducing taxes for the Rich.  Okay?  Creating a bigger deficit.  Going from bad to worse.

All this would be like a man working two jobs and takes out a large loan.  Possibly more than he could pay back.  In the meantime the man loses one of his jobs.  Reducing his income.  And reducing his ability to pay off the entire loan.  Then man refuses to pay back the loan stating he doesn’t want to look for another second job.  Working two jobs just gets in the way of his personal life.  Leaving a huge debt unpaid.

So, the debt collectors are now knocking at the door wanting payment.  Collector doesn’t want to see a budget plan.  He wants to see hard cash.  Legal tender.  Money!  Money anyway you can get it.

Now the only way the US Treasury can get money is to increase taxes on the rich.  It’s too late to put a lean on George W Bush’s personal property.  However we could attach his current wages.  Not a bad idea huh.  But not enough money to pay downs the deficit.

Social Security and Medicare didn’t borrow money to run two costly wars.  It was the Bush Administration and his rich friends.  So now, he and his rich friends need to pony up and pay back the loan. 

In other words, we must raise more revenue by taxing the rich.  There, I said it.  Tax the freaking rich.  It’s their debt.  Not yours or mine.  Raise taxes.  Stop all give away loopholes.  Let the rich bite the bullet.  It’s their turn.