"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Explaining the US Debt Crisis — To My Teenagers
Hey kids, pause American Idol for a moment and let me "lay some wisdom on you," as your generation likes to say. It's about the US debt and what it means to you. If you pretend convincingly that you're fascinated by what I have to say, we'll go out for pizza, OK? Great.
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Pass this on to your kids (or your neighbor's kids if you don't have any of your own.) I could not have explained their collective financial futures in America better than Mr. Isenberg.
Did you see this comment from MKAllen, jd-in-georgia?
Mr. Isenberg did a great job simplifying the very complicated subject of finance and debt. I couldn't stop thinking about what the conversation would look like if I had the same talk with my three teenage children. I imagine after explaining to them how their mother and I had pawned them to the loan shark for money and probably were going to have to default they would reply "so are we getting pizza or not?" I would then stress that because of my fiscal irresponsibility they soon might be running numbers for the local pawn shark. They would reply with something along the lines of "sooo... are you saying we can't order extra toppings?" Yes indeed...all three could have a great future in congress!
Unfortunately, this reaction would not be restricted to teenage children only; most adults would respond similarly. "So-o-o-o, are we going to get 'free' health-care benefits or not?" "Does this mean I can't get another extension on my unemployment benefits?"