Topic: When A Government Goes Insolvent

A sign of cultural demise is that of an insolvent government. The French Revolution occurred against the backdrop of a bankrupt government. Today, our government has not managed a balanced budget in nearly thirty years. Beneath the annual budget lies a debt of unmanageable proportions. History warns that a government rendered insolvent cannot quell its disenchanted masses. A sign of cultural demise is that of an insolvent government. The French Revolution occurred against the backdrop of a bankrupt government. Today, our government has not managed a balanced budget in nearly thirty years. Beneath the annual budget lies a debt of unmanageable proportions. History warns that a government rendered insolvent cannot quell its disenchanted masses. We are faced with an insolvent government and an insolvent nation of consumers. The generation that went through the Great Depression and retained the painful memories of those dark days has begun to die off. Today we have a nation of consumers that puts whatever it wants on a credit card until the credit card is maxed out. The ideas of frugality, conservative spending, and only buying what is needed are foreign to the electorate who elect our government leaders. For one and one-half generations young people have not been taught they are responsible and taught not to be responsible. This cavalier attitude about personal responsibility is reflected in what we expect from our government and how our government treats us in return.