The Truth and Business Optimism

It is going to get far worse before it gets better! Politics aside, as we move into the election season politicians on both sides of the aisle are speaking to the population at large that has far too many individuals with their heads in the sand and a self-serving attitude. As such, they are not speaking truthfully because they know the truth will not get them elected! Here is a dose of reality:

• US National debt                                         $13+ trillion
• State and local debt                                    $ 2.5 trillion
• Unfunded state and local pensions             $ 7.7 trillion
• Social Security & Medicare                         $38 trillion

Total US debt                                                      $64.2 trillion This number exceeds the total GDP of the entire world! Nearly every institution in America is under tremendous stress, federal, state, and local; government, private, and non-profit. We are not going to get out of this mess unless we face the truth. In view of this my optimism still reigns. I am confident that as Americans we will get through it yet it will require a great deal of personal sacrifice and we have to be ready to accept it or hand catastrophe to future generations. Personally I never intend to take a Social Security check; leave it for those who need it. In my view it is immoral to do otherwise. Am I angry? Damn right! I paid into this system like everyone else and am entitled to it but the funds were misdirected by irresponsible government leaders. There is no need to stay angry, entrepreneurs are optimistic. We move on. Better days are ahead, much better. Here is a fitting quote I saw Tuesday in “The Daily Bread”: When wealth is gone, little is lost; when health is gone, something is lost; but when character is gone, all is lost!

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