I spent a good chunk of Sunday morning reading Sen. Rand Paul’s 100 page FY2013 Budget Proposal (A Platform to Revitalize America). Having only ever voted for democrats, it’s strange to even entertain a plan like this. I have my reservations, especially because this way of thinking is very new to me, but I can see the logic in enough of it to consider it. The more I think about the national debt (around $17 trillion), how fast we’re adding to it (around $30k every second), how much money’s been created out of thin air through quantitative easing 1, 2, and 3 (and how that will ultimately affect the value of the dollar), how bad inflation might get if foreign investors stop buying our Treasury bonds and we’re left with piles of unwanted dollars, all the unfunded liabilities (something like more than $80 trillion as of Nov. 2012)… the more comfortable I am getting on board with the fact that we’re broke and something’s gotta change. That we can’t just keep jumping from bubble to bubble, living on illusory wealth, while no one has any incentive to actually save and cut back spending.
I didn’t plan on writing anything political here, but this stuff’s been on my mind a lot these last 6 months. I’m still reading and learning about business cycles and different economic theories — what the Keynesian folks believe vs. the Austrian — all that stuff. But so far, from what I’ve read, it makes me feel worried. And I’ll entertain any plan that at least addresses these kinds of issues.