You can’t spend more than you make without going broke. This is true over the long run for ordinary people, big business, and countries. Continuously borrowing more money is not a solution. Neither is printing it.
There is also no such thing as a free lunch. You may get it without paying for it yourself, but somewhere along the line somebody else footed the bill.
These propositions seem more self-evident to me than Jefferson’s unalienable right to, “Life, Liberty, and the Pursuit of Happiness,” but they’re disregarded day after day, week after week, month after month, and year after year by almost everyone, including most importantly by the people who profess to know what’s best for us – namely the elected public officials we entrust with our common welfare and the supposed experts from academia who advise them.
Our economy is anemic, our national debt is skyrocketing, and the percentage of the population in the workforce has been declining for decades. In the meantime, the cost of entitlements goes up and up.
Something has to give. Nobody promised than the high standard of living, freedom, and democratic government we’ve enjoyed for generations would last forever. Civilizations come and go. I sure wish people would start acting as if it will all be lost unless they stop insisting on having their cake and eating it too.