Wednesday, December 11, 2024

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Is There No End to This Borrowing?

By Patricia Hall

Nostalgia is big in our country! Appreciation for times long gone largely fuels our tourist economy. Wildwood heavily promotes enjoyment of its Doo Wop culture by encouraging architectural revival of all that speaks of that time in our past; the 1950s and 60s. The music is celebrated during the 60s Weekend and many old-time performers are welcomed back by silver-haired rockers who remember when we and they were hip teenagers.
Our city to the south, Cape May goes even further back to the time of Queen Victoria. She celebrates the charm of Victorian architecture, furnishings, clothes and manners. Everything from that Gilded Age is brought out for locals and tourists alike to admire and sometimes chuckle over. Nostalgia and our beautiful beaches are an unbeatable combination for a really super vacation.
Right now as our Congress considers raising our debt ceiling to stratospheric heights, I am feeling nostalgic about something else in that long ago time when Victoria was well into her 63–year, 216-day reign. Grover Cleveland was our president and the year was 1887.
Bedtime reading in our house frequently includes, for my husband Art, the messages and papers of the presidents (my bedtime reading is generally less serious) Volume VII. Occasionally he shares aloud something he finds funny, instructive or just plain unbelievable. This next quote fits into the last category. It is taken from Cleveland’s third annual message to Congress.
“The amount of money annually exacted, through the operation of present laws, from the industries and necessities of the people largely exceeds the sum necessary to meet the expenses of the government.” Did you get it? Grover Cleveland said to Congress we have taken in more money than we need to run the government! Have you heard any president of any party state such a dilemma? It is unthinkable and yet there it is in black and white. That is a kind of nostalgia I can get into.
Contrast that with the urgent request of our present president to increase the amount of money our government may borrow by an additional $2 trillion
Now we are really getting into high finances here but it seems to this simple mind that all those zeroes add up to a lot of money that you and I can’t pay back. Heck, we can’t pay back what we owe at the totally inadequate debt ceiling we are now operating under. So explain to me why we should be allowed to borrow more.
That sounds like a pretty miserable credit score if the Congress operates like the American homemaker does. I’ve seen the ads — low credit score means no more goodies. I hate to ask the question, but does the government have a stash that it is hoarding somewhere? Looking in my pocketbook — I don’t find it and so I am forced to cut back on my spending — not ask for more credit!
A lot of things to ponder, but can we bring back Grover Cleveland as president?
PATRICIA HALL, the publisher’s wife

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