Council shows how it’s done | Editorials

As President Joe Biden prepares to commit future generations to nearly $ 2 trillion in further debt, the town of Laurel and Jones County have shown the benefits of paying their debts on time and living on time. their means.

The city funded a million dollar bond with an incredible interest rate of less than 1%. City Council Chairman Tony Thaxton said he had never heard of such a low rate. Even more astonishing, two separate offers reached less than 1%.

The news came just days after Chief Financial Officer Charles Miller of the Jones County Board of Supervisors announced the county had achieved the coveted A-plus bond rating. Board chairman Johnny Burnett praised Miller, the new supervisors and the new sheriff for staying on budget.

Residents should pay attention to the importance of staying one step ahead of finances, whether it’s running the city, the country, or your own household. We know it can be difficult at times, but fiscal responsibility has many benefits. Auto loans are available at lower rates just like home loans. Keeping credit card balances to a minimum – or not at all – will lead to dramatic financial freedom that everyone should strive for.

And then we have the federal government, which has already spent future generations in financial ruin. The spending in Washington, on the backs of unborn generations, is the realization of financial disaster. It may not happen today or this year, but someday our big debt count has to come. The spending is unbearable at this rate. Printing presses keep running as more and more pieces of paper circulate in the financial markets. Math always wins.

At the time of this writing, the national debt of the United States stands at over $ 28 trillion – a number so astronomical it boggles the mind. The debt per taxpayer – most of you included – is over $ 223,000. The deficit – the difference between what you take and what you spend – is over $ 4 trillion. The unfunded liability – what the government has promised with Social Security and Medicare – is $ 159 trillion.

And now, with the support of one political party, we are adding another $ 2 trillion to this bill that will someday either have to be collected or will render our change worthless. Imagine spending $ 600 on a loaf of bread. It could happen. It should scare all Americans to see how irresponsible our government has been with its finances.

Polls will say more than 70 percent of those polled supported the $ 2,000 billion bill because of the $ 1,400 in earnings most Americans will get – a paltry sum of what has been allocated .

The politicians who designed and passed this monstrosity will smile and cheer each other up while trumpeting that now the American will be saved, when in reality all that has been done with this disgusting display of spending has been us bring $ 2,000 billion closer to ruin.

Well done, Laurel and Jones County, for doing what we wish the federal government would have done generations ago – live within its means. The positive results of fiscal responsibility are many. We saw it during the last municipal council. The negative aspects of fiscal irresponsibility will manifest themselves sooner or later. Math always wins.

About Darnell Yu

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