No, hang on, that should be the other way around, shouldn’t it? Not as far as 2011 was concerned. The year began with a tea-powered Republican caucus taking control of the House of Representatives and pledging to rein in spendaholic government. It ended with President Obama making a pro forma request for a mere $1.2 trillion increase in the debt ceiling. This will raise government debt to $16.4 trillion — a new world record! If only until he demands the next debt-ceiling increase in three months’ time.
At the end of 2011, America, like much of the rest of the Western world, has dug deeper into a cocoon of denial. Tens of millions of Americans remain unaware that this nation is broke — broker than any nation has ever been. A few days before Christmas, we sailed across the psychological Rubicon and joined the club of nations whose government debt now exceeds their total GDP. It barely raised a murmur — and those who took the trouble to address the issue noted complacently that our 100 percent debt-to-GDP ratio is a mere two-thirds of Greece’s. That’s true, but at a certain point per capita comparisons are less relevant than the sheer hard dollar sums: Greece owes a few rinky-dink billions; America owes more money than anyone has ever owed anybody ever.
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Public debt has increased by 67 percent over the last three years, and too many Americans refuse even to see it as a problem. For most of us, “$16.4 trillion” has no real meaning, any more than “$17.9 trillion” or “$28.3 trillion” or “$147.8 bazillion.” It doesn’t even have much meaning for the guys spending the dough: Look into the eyes of Barack Obama or Harry Reid or Barney Frank, and you realize that, even as they’re borrowing all this money, they have no serious intention of paying any of it back. That’s to say, there is no politically plausible scenario under which the 16.4 trillion is reduced to 13.7 trillion, and then 7.9 trillion, and eventually 173 dollars and 48 cents. At the deepest levels within our governing structures, we are committed to living beyond our means on a scale no civilization has ever done.
Our most enlightened citizens think it’s rather vulgar and boorish to obsess about debt. The urbane, educated, Western progressive would rather “save the planet,” a cause which offers the grandiose narcissism that, say, reforming Medicare lacks. So, for example, a pipeline delivering Canadian energy from Alberta to Texas is blocked by the president on no grounds whatsoever except that the very thought of it is an aesthetic affront to the moneyed Sierra Club types who infest his fundraisers. The offending energy, of course, does not simply get mothballed in the Canadian attic: The Dominion’s prime minister has already pointed out that they’ll sell it to the Chinese, whose Politburo lacks our exquisitely refined revulsion at economic dynamism, and indeed seems increasingly amused by it. Pace the ecopalyptics, the planet will be just fine: Would it kill you to try saving your country, or state, or municipality?
Last January, the BBC’s Brian Milligan inaugurated the new year by driving an electric Mini from London to Edinburgh taking advantage of the many government-subsidized charge posts en route. It took him four days, which works out to an average speed of six miles per hour — or longer than it would have taken on a stagecoach in the mid–19th century. This was hailed as a great triumph by the environmentalists. I mean, c’mon, what’s the hurry?
What indeed? In September, the tenth anniversary of a murderous strike at the heart of America’s most glittering city was commemorated at a building site: The Empire State Building was finished in 18 months during a depression, but in the 21st century the global superpower cannot put up two replacement skyscrapers within a decade. The 9/11 memorial museum was supposed to open on the eleventh anniversary, this coming September. On Thursday, Mayor Bloomberg announced that there is “no chance of it being open on time.” No big deal. What’s one more endlessly delayed, inefficient, over-bureaucratized construction project in a sclerotic republic?
Barely had the 9/11 observances ended than America’s gilded if somewhat long-in-the-tooth youth took to the streets of Lower Manhattan to launch “Occupy Wall Street.” The young certainly should be mad about something: After all, it’s their future that got looted to bribe the present. As things stand, they’ll end their days in an impoverished, violent, disease-ridden swamp of dysfunction that would be all but unrecognizable to Americans of the mid–20th century — and, if that’s not reason to take to the streets, what is? Alas, our somnolent youth are also laboring under the misapprehension that advanced Western societies still have somebody to stick it to. The total combined wealth of the Forbes 400 richest Americans is $1.5 trillion. So, if you confiscated the lot, it would barely cover one Obama debt-ceiling increase. Nevertheless, America’s student princes’ main demand was that someone else should pick up the six-figure tab for their leisurely half-decade varsity of Social Justice studies. Lest sticking it to the Man by demanding the Man write them a large check sound insufficiently idealistic, they also wanted a trillion dollars for “ecological restoration.” Hey, why not? What difference is another lousy trill gonna make?
How anyone can look at that facts of our debt and think that we are fine spending like this forever is beyond me. I just can't understand it. Reading you Mr. Steyn is great but keeps me from being calm and complacent about the future. I just cling to hope that we must realize soon we have to reduce spending and reducing it significantly soon. Happy New Year? I don't know but I hope it is at least a happy Nov. come 2012
Until we stop pretending that election outcomes are a means to an end instead of the end itself, as politicians would like us to believe, nothing will ever substantively change in this country,
2010 was supposed to signal the beginning of the end of big government, and instead we have 'leadership' ready and willing to 'compromise' at every turn.
Let's face facts - as long as the likes of Boehner and McConnell, and especially Karl Rove, remain in power positions in the Republican Party, there is absolutely no reason to believe that there will ever be any substantive difference between these two corrupt parties, and therefore any substantive change in this country.
The media, including those on "our" side (NRO, Hannity, Fox News) desperately need us to continue to believe the myth that each election is a life or death matter - "the most important election of our lifetime". Ratings and magazine sales depend on it. It astounds me that thinking people continue to believe that the corrupt scum in either party is remotely interested in anything beyond the next election, much less the future welfare of this country. Yet the Steyns, Hannitys and Limbaughs will give example after example of Democrat corruption, while rationalizing that Republicans are helpless victims with no choice but to go along.
We've heard that garbage since the mid '90's, and what has really happened in this country with both parties being in and out of power? The further expansion of the entitlement class, bigger and more powerful lobbies shaping legislation, and our freedoms constantly becoming more restricted.
What will be gained by the election by the election of a Mitt Romney? The repeal of ObamaCare? I have serious doubts that the Republicans have the will or desire for that fight, but can virtually guarantee that any 'compromises' made to get that done will simply end up bankrupting the country in a different way.
You could not be more right on this one. All the writers at NRO and Rush and Fox talk, sometimes brilliantly, about the fiscal mess. I concur. But then they ridicule the ONLY fiscally serious candidate we have on the ballot. And tell us we shoukd FEAR him. Why? Because he doesn't want to start another unwinnable war, with borrowed money we can't possibly ever repay. In most debates he was bated with questions to make him sound scary, and usually had little time to speak throughout.
If you are worried about our fiscal situation, but Ron Paul scares you, go to You Tube and educate yourself.
Search Netanyahu and Ron Paul for one. They agree 100% that Israel has a right to, and should defend herself.
In a debate Dr Paul said he is not anti war, but it must be debated, voted in Congress and we must go in with the intention to win it. Is that so radical? Every time i see one of our limbless Irag war veterens, I am so ashamed of myself for supporting the Iraq effort. Sometimes those sacrifices must be made, but our rules of engagement contributed to the number of casualties, and I think that is what he meant by going in to win. He served our country and veterans give more to DR Paul than all other candidates combined.
Also note via NY Times that he is the only US politician who defended Israel's right to destroy Iraq's nuclear plant. Isn't an ounce do prevention worth a pound of cure. Or in our case, trillions of cure.
You're so much more charming when you stick it to everyone and don't just focus on Millenials.
Why can't we break up the red and blue states into two new countries and we'll send all the LGTBQXQC and other leftists to the blue states and all the religious to the red states and see which one collapses in ten years.
Leftists have had a chance to run a nation. The Soviet Union showed that central planning & economic redistribution doesn't work. As for conservatives, we showed that we can be succeessful. After all, the USA is still standing & if we can just get the progressives to stop, maybe we'll still have it for my grandchildren.
And Happy New Year to you, too, Mark. Now I'm simultaneously enlightened and morose. Oh well, the truth hurts. Like you, I marvel at the "gee whiz" attitude of our self-mutilating Bush derangement syndrome progressives about their breakneck spending while their fairness/social justice/anti-free market/crony capitalist/carbon averse green agenda is systematically dismantling America. Keep up the clarion call into and through the New Year and beyond, Mr. Steyn, and keep the faith.
The "it's all about me" society in America is determined to have its way and that includes seniors who believe they deserve their Social Security checks and other costly taxpayer-funded benefits regardless of how much other Americans will have to sacrifice in order to provide those benefits. While not all American seniors are living the good life, as a group they are far better off than the 20 and 30 year olds who are funding their retirement benefits and senior discounts. It shouldn't escape our notice that no one is protesting retirees in the 1% who are receiving money from taxpayers they don't need and probably won't live long enough to spend. Is it fair - or reasonable - for restaurants, hotels and other businesses to give discounts to retired, multi-millionaires while young families stay at home because they can't afford to dine out and travel? Those who refuse to admit that changes must be made to a very broken system are living in denial and encouraging those who are responsible for fixing the broken system to ignore it instead.
It's time for Americans to accept and deal with the reality we have, not the reality we wish we had. If the American people continue to punish politicians for making the hard choices - or even mentioning the hard choices - we will continue to flounder as a nation. It's time that we recognize that what is good for one is not good for all and that some personal sacrifice is required if we want to prosper as a nation. I am approaching retirement age, have paid into Social Security since I was 18 years old and, like all American retirees, would like to receive a return on my investment. On the other hand, I understand that much has changed in our country since Social Security became the law of the land, the program hasn't changed at all and is now incapable of fulfilling its commitment. And I also understand that voting for the candidates who promise not to mention it won't fix that. The program as it operates today will eventually run out of money and millions of Americans tomorrow will get nothing because Americans today are determined to get every penny they believe they deserve.
"The "it's all about me" society in America is determined to have its way and that includes seniors who believe they deserve their Social Security checks and other costly taxpayer-funded benefits regardless of how much other Americans will have to sacrifice in order to provide those benefits."
This is the most unacknowledged fact in conservative policy starting with obnoxious Ryan's plan we are all supposed to love. Because, people planned to get loads of stuff for free so we need to make sure it happens!
Admiral Halsey, when asked how to win the war said: "Kill J ps, kill J ps, kill more J ps."
We need to "Have k ds, have k ds, have more k ds."
Like rabbits, so get with it.
Oh and we need to quit worrying about the chunk of rock we live on, and be more concerned with our own fragile existence.
Would love to! We have four already and would like two more. But until medical/utility/food/gas/college costs stop skyrocketing, no can do. And we're certainly not a "we can't have another child; how could we afford a second au pair or a cruise to the Bermudas?!" family. We already live frugally to provide for the ones we've got. We're in that lovely, and ever shrinking, sweet spot where we make too much for handouts but not enough to not feel the squeeze when necessities get more expensive all the time.
I agree with much of your viewpoint, but feel compelled to garnish it a little -
Working taxpayers aren't who got us into this mess. The spenders and the takers got us into this mess.
I suspect a lot of seniors (or 'about to be' seniors) have the notion that "hey, we're the ones who have been plowing the fields like good citizens for the last 50 years, dutifully going to work and paying our taxes (and believing govt promises) and now we're being told that WE - and apparently only WE - are the ones who have to bite the first and biggest bullet?"
I think that many (like you and me) 'approaching retirement age' taxpayers would be much more willing to be agreeable to 'shared sacrifice' if we saw some evidence of some of the same sacrifice being shared by our political class and by the ever-growing legion of adults who are 'refundable tax credit' recipients instead of taxpayers.
LIke Mr. Steyn says, we should be arguing about how many and which govt departments to eliminate, not arguing about what percentage to RAISE our debt.
I agree with every comment you made, but I also know that unless seniors, as a group, express support for reforms that will repair the broken system and stop threatening politicians who suggest those reforms, the stalemate will continue and nothing good will come of it, especially for future generations. We're not being asked to sacrifice all, just some, and it seems absolutely un-American for our response to be "It's mine, I earned it and I won't share it."
The Captcha phrase for this comment was "lets roll." It puts the SS debate - as well as the phrase "shared sacrifice" - into perspective and encourages me to give up something I have for the benefit of others. The brave Americans on Flight 93 confronted vicious terrorists in order to save the lives of people they would never know. I should be able to find the courage to sacrifice a few dollars of what I am entitled to in order to provide my children, grandchildren and great grandchildren with a more financially secure future.
Jenna, I'm not a retiree and not even close to retiring. I'm 40 years old, about to be divorced (NOT my choice), and I have ZERO RETIREMENT SAVINGS or savings of any kind. That last part is MY fault.
That said, I'm one of those people willing to take it in the chin - stop taking SS and MC out of my paycheck, let me keep it. Reform what is left of the SS and MC systems so that the people who are relying on them right now and who will be next in line to retire (55 and over), can get something just based on the simple legal notion of "reliance". But no one else under the age of 55 should have the money taken out or get anything when they retire. Get rid of the whole thing and start teaching peoplel HOW to fish, rather than give them the dang fish.
I know of a few people who share my sentiments on this subject, but I don't know many. I'm tired of hearing about reforming a system that is unconstitutional anyway. I want to hear "cut cut cut cut cut cut" and I want to see a tiny little federal gov't doing what it's supposed to be doing.
Your point is well taken, but providing reasons why the system is broken doesn't fix it. Because we chose to ignore Social Security's impending insolvency and force the consequences of our inaction onto future generations, cutting Cowboy poetry from the budget is but the proverbial drop in the bucket that will do little to make-up for a shortfall that took decades to create.
I usually love your posts Jenna but this one confounds me.
Do you not understand who paid into Social Security (since I was 14) and where that money went? It was paid out to my parents generation - referred to as the Greatest Generation. They didn't pay into it long enough to live out their lives on but they received it because I was paying for it.
Do you think that as a 20 and 30 year old we lived the high life? We had many struggles in raising a family, buying a house, etc. We were watching our pennies, eating hamburger, skipping vacations because some house repair was a bigger issue.
If I had a choice at retirement and the government had offered me the money I had paid in, I would have jumped at it. The problem is, my money had already been spent, not only on previous retirees but also scammers on Disability.
And to what discounts are you referring? I'm retired and I get no discounts on any of my bills. Instead I get to pay for additional Medicare insurance, dental insurance and vision. The government gives you just enough to live on (which I paid for) but you better be able to supply additional $$$$$ if you want to eat and have an internet connection.
I do agree Buffet should forgo his SS and Medicare benefits and I hope that is who you were referring to, not most of us old crabby me me me people, who supported this country until you earned the spot.
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