Letter to America: Who gives a trillion?

by | Thursday 21 January 2016

Sydney Australia
January 2016
Letter to America
Who Gives a Trillion?

Dear Americans,

It can’t be easy trying to decide which Presidential candidate is best qualified to take on the twenty trillion dollar government debt.

There is no question that George W and Obama led debt dynasties which will be hard acts to follow but many experts believe Bernie Sanders would be more than a match for them and it could take him as little as four years to demonstrate that even a quadrillion is no longer out of the question.

Hillary is threatening to shower the unwashed with dirty money by splashing out only slightly less lavishly than Bernie. Putting her in charge of the twenty trillion dollar debt would be like putting Kim Jong-un in charge of putting out a fire at the White House.

Trump is obviously the best credentialled candidate to take on the US debt because he’s been bankrupted three times.

Is the brother of the President who played a leading role in creating the debt a likely prospect to eliminate it? Surely Jeb would be hesitant to belittle his brother’s most enduring Presidential legacy.

Not even a loaves and fishes crusade from Ben Carson would stretch to twenty trillion. The only American capable of covering a financial hole that big is Bernie Madoff.

It is interesting to speculate whether any Presidential candidate is truly serious about diminishing the debt. It remains a powerful symbol to the world of the US’s economic pre-eminence because no other nation is powerful enough to create a debt that big.

Heaven knows what the twenty trillion was spent on but I hope that perhaps in some small way it was you.

It’s my guess that no Presidential candidate has a serious debt-reduction policy because the truth is that most other nations would be only too pleased to pick up any debt discarded by the US and you would lose the pre-eminent global clout and respect accorded to the government who owes the most money.

A leading US commentator said recently “the country will always be in Obama’s debt”. He was probably right.

Carry on spending

Roger Pugh