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Entries for April 2016

22
Today’s post is about morality, specifically the relationship between morality and economics, and where the lack of morality always leads - one of the ways in which it manifests itself.  We’ve heard a lot in the news about the federal government debt approaching $20 trillion, almost half of which will have been added in the last eight years alone.  What is largely unmentioned is that private debt is now over $42 trillion dollars as well.  The chart below shows total debt growth by sector since 1972 in 2015 dollars, and the growth in our economy’s real Gross Domestic Product (GPD) - its revenue - during that same period.  Our total debt to GDP ratio has grown from about 150% in 1972 to over 300% in 2014.  If we put together a balance sheet for our country, we would currently be highly leveraged, meaning we have a higher risk of not being able to meet our future obligations as they become due.

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Posted in: Charity
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About Dan Wolf

Dan WolfMy goal is that my writing will help you to get started on your own journey of discovery, or help you along the way on a journey you may have already begun. Our Founders considered education, religion, morality, and virtue to be the cornerstones for any successful society. Being successful requires understanding both the languages of reason and faith; reason alone is insufficient.