Debt Doubts


I’m not American. I don’t have a vote. I shouldn’t have an opinion on the Debt Crisis, but guess what….?

I don’t lean Republican. I don’t lean Democrat. I really don’t do politics, but guess what …?

I’m not wealthy. I’m not poor. I have no influence over stock markets, but guess what …?

I get ragingly upset when people … usually people a lot younger than me … seem to think they can tamper with my retirement fund.

This Debt Crisis Stateside has been a doozie if ever there was.

Yes I can easily understand, appreciate and support even, the various factions, sides and opinions. I can easily understand why borrowing more and more and more money is a slippery slope. I get it.

I can also see why social programmes for the less fortunate need to be addressed and funded accordingly. If they are truly destitute then humanitarianism must have voice. I get it.

And I can also reluctantly recognize why human nature and opinions are so deeply held that no-one dares blink.

Having been in many “tit-for-tat” situations in business over many years and being “obstinate” myself (who said that ?), at times, I can easily appreciate why politicians on both sides dig their heels in so deep that they can’t get their feet to move at all. I get it. Actually I sympathise, because those hard-felt beliefs are probably/hopefully genuine and they really are deeply concerned about the population at large.

What does annoy me though (and I honestly don’t know if this has been the case in this matter), is when a “national” Vote is hindered by the “adding-on” of a very localized demand. There are no prizes for such behaviour. If the nation (and the world for that matter) is being held to ransom by some outlandish demand, then common sense just ain’t common no more.

So, what’s my real beef on this …?

The impact on retirement funds

… through nervous financial markets, through downstream programme costs, increased borrowing costs and debt payments, interest rate management, and so forth.

As a retiree, I cannot catch up.

If I am on a fixed income, heavily dependant on investment returns either in a portfolio or a pension fund, to make ends meet, then if the cost of living, or the reduction of that income is thrust upon me by intransigence, then how do I cover that financial downside…?

Now many of you by now, on both sides of the Debt argument, are saying, ”Bill, that is what this has been all about mate”, I yield.

My point is that regardless of who is right or who is wrong, regardless of who ”wins” or not, regardless of how strongly you feel, either way …. The fact is that my financial welfare – and I suspect yours too – has been severely jeopardized.

I am not able to go get a better job, or get a second job, or work more hours, to bolster my income. Those days are behind me.

Finally, I accept that I have no right to “tell” those politicians what to do, and I would not even attempt to be impertinent and criticize another nation.

But I do feel that the whole ethos of Olderhood, and the synopsis of the many comments we’ve received since starting this journey, does grant a licence to speak these words, whether any one person agrees or disagrees. That is your prerogative, and I acknowledge that totally.

I sincerely hope this has finally been sorted out sensibly, satisfactorily and above all else, sustainably. About blinking time… !

Millions of us have been understandably worried ….. whether we live around the corner, or around the world.

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