The presidential candidates talk about leadership and change. What’s the one question that combines both, but is not asked? Simple: What happens if it all comes crashing down?
After the worst stock market drop since 9/11, the question doesn’t seem so out of place. Our federal government’s debt is rising fast. Even if we balanced the budget tomorrow, the government would have a deep, multi-trillion dollar debt. Trillions and trillions, you might say.
So, Mr. Obama; so, Mr. McCain — what do you do when the Treasury can’t find anyone to invest in all the debt we have created, and must maintain? What do we do when the compounding of interest and increased deficits make monthly maintenance impossible?
Neither of you have even suggested a balanced budget early in your first term. So what do you do when our credit goes crunch?
Add to this the federal government’s obligations to the citizenry, in the form of Social Security retirements and Medicare and pensions and such, and what can you do?
How do you stave off — or, if not, survive — a worldwide depression?
The scenario is not fantastic. Just look at current figures and crunch the numbers.
So, what would Senators Obama and McCain say? I’d be curious what Bob Barr and Ralph Nader would say, too. Have they thought of the possibility?
This is one question that sure would make the upcoming debates interesting.
This is Common Sense. I’m Paul Jacob.