Where there's no will, there's no way.

Op-Ed

You've likely heard of, but perhaps not read the recommendations of the Presidential Debt Reduction Commission. You can read it here. The commission is led by former Wyoming Senator Alan K. Simpson and Clinton Chief of Staff Erskine Bowles. (This disclaimer: I've known Senator Simpson for some 25 years, seeing him most recently this past September)

Simpson's comments while making the rounds of interviews have been his usual colorful self. Bowles has been a bit more scholarly in tone. Either way, the focus is clear: Increase revenues and cut spending.

It's basic economics, which is understood everywhere else except government. It's hard to understand, why government can't understand, that you can't spend money you don't have.

The nation is broke. Deficits and debt are measured in the Trillions and we'll soon have to invent a new word for the next level. For now I'll use a Gazillion.

Gadzooks.

There of course have been howls of outrage about what needs to be done to dig out of this hole. Simpson responds, ""America, you have a serious problem and time is short to address it." Bowles makes his feeling clear as well describing Washington's penchant for spending money like drunken sailors as " a cancer, destroying our nation from within."

Some pundits question why we on Main Street should bear the brunt of all this. They say it was Washington, not us who created the problem. Actually it is our fault. We elected the same people year after year, decade after decade to bring home the bacon. It's our job and responsibility as citizens to pay attention to what's going on in Washington. The power lies with us, we only lend it to those we elect to represent us.

We were asleep at the switch while Washington maxed out the national credit card, manufactured new ones and maxed those too. The bills have come due. We've run out of paper and plastic.

If we have the will, we will find a way to dig out from the mountain of debt that is our sad legacy to our kids, our grand kids and their kids. It's going to hurt, big-time, for a long time.

But if we don't have the will, there's no way out. China owns the second mortgage on the White House and are licking their chops to foreclose.

Think about it.

Brian Olson
Conversation Starters LLC
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