The Hand That Holds the Cards

I have spoken a little about how our country used to be a place for other governments to come and ask for loans. Now, our country is a debtor nation. Our national debt reflects our bad judgement at all levels.

Our leaders' refusal to balance the budget and pay off our debt is reflected in our personal and our business debts. Consumer debt is destroying lives everyday.

The problem with our national debt is that it drives down the value of the dollar. The dollar is backed by our word and those who back our loans.

If for any reason our loan agents from the Middle East or in China decide they want us to pay up, we lose. The dollar will crash.

To the point...

I wonder how much our President and certain members of Congress are telling us. Are those who are loaning us these ridiculous loans holding a knife at our national throat? I can almost bet that is why we are so gentle with some nations such as China and Saudi Arabia.

I am not saying China and Saudi Arabia are great threats. We do not have much leverage when it comes to their social injustices though.

My fear is that those who hold the loans may be able to manipulate certain foreign policies.

The answer...

I believe we have to pay off our debts. We need a debt "snowball" as Dave Ramsey frequently speaks about on his radio and television show. This is one sure way of solidifying the dollar - not the only means but at least we will not be held captive to debt.

Congress has to know we are serious about this.

Proverbs 22:7 says - "Just as the rich rules over the poor so the borrower is servant to the lender."

I haven't taken an economics class in 15 years but I am sure that verse is correct about each of us. I personally cannot ask those who represent me to be good stewards of our nation if I myself cannot control my own spending and keep out of consumer debt.

So I challenge you, take the snowball challenge and start paying off your debts. Your retirement will thank you for it. Then you will have leverage with those who make our money decisions in government.

I am four months away from paying off everything but my home. It feels really good to have control of my money again and it is not controlling me.

Our nation can have this same feeling if we can get in control of our personal debt and cut spending. So how about it?