The Slavery of Debt

            Martin Bashir is finally gone.  He said he resigned from his job at MSNBC, but we all know he was fired for the vile on-air attack he made on Sarah Palin.  He suggested someone defecate in her mouth, a method of punishment used by some slave owners.  Why would Bashir attack Palin in this disgusting way?   Because she had said that America had become enslaved to debt.

            Here in part is what she said:  "Our free stuff today is being paid for by taking money from our children and borrowing from China.  When that money comes due...it'll be like slavery...We are going to be beholden to the foreign master."
            Liberals, who care nothing about spending this nation into oblivion, went nuts.  When Ron Paul echoed Sara Palin's words by saying "Ultimately, debt is slavery," Salon Magazine called him a racist.  Al Sharpton, who is well known for his own brand of racism, slammed Palin.  He screamed, "Our federal debt is like slavery?  Slavery was a horrific, vile, a vile practice explicitly based on race.  So it's hard to avoid sounding racist when you make comparisons like that."  The Reverend might have remembered that his Bible says, "The rich rules over the poor, and the borrower becomes the lender's slave." (Proverbs 22:7)
            Let's look at some facts.  Our national debt is 1700% higher today than it was in 1971.  The debt is now over $17 trillion, and, if we include unfunded liabilities, it is over $70 trillion.  Individual Americans are also enslaved by debt.  According to the Federal Reserve, household debt, which includes credit cards, mortgages, car payments, medical debt, and student loans, averages $75,600, or 154% of personal income.  Credit card debt alone totals $798 billion, more than $15,000 per household.  Meanwhile, our government, oblivious to the impending catastrophe, is strangling our economy by taxing us to the hilt to fund runaway entitlements  and disastrous programs like ObamaCare. 
            How did we get so far into debt?  We had virtually no national debt 90 years ago.  Calvin Coolidge, who was president then, explained why.   He said, "A government which lays taxes on the people not required by urgent public necessity and sound public policy is not a protector of liberty, but an instrument of tyranny.  It condemns citizens to servitude."  He knew something about economic slavery even back then.  I wonder what he would say today.