What should We the People do with the “DOGE savings?” The Department of Government Efficiency is identifying billions and billions of dollars that would cut federal spending. Where should that money go? I had an interesting discussion with my teen students the other day. Here are three ideas being “floated” lately:
Spend the Money
One idea is to give taxpayers a $5000.00 check. Taxpayers keep the money to spend, save, or pay down personal debt as they wish. At first, the teens were for taking the money. As they said, “It’s our money they’ve been spending!” True. However, I recall the money being distributed during the Pandemic shutdown and the problems incurred with distribution. How did that work out for the nation?
Pay Down the National Debt
When America is $36.22 Trillion in debt, it seems wise to take the DOGE savings and pay down the National Debt. As an ancient Proverb says, “The borrower is a slave to the lender.” Eventually, the lender controls the debtor until the money is repaid. I heard that 1 million seconds is about 30 years. Regarding the National Debt, it seems like $36T stretches out to infinity. Our posterity is left holding the bag for a debt they never created. If we look into the eyes of our children and grandchildren, is a life of being a slave to the lender what we want for them? But wait, there’s another option:
Save for Next Year’s Annual Budget
I couldn’t believe this was even “on the table,” but saving the money for next year’s budget? How does that work in your house? If you have credit card debt and receive a cash gift, should you save it at an interest rate (usually less than 10%) that will be lower than your credit card interest (around 22.6%)? Which is smarter? Pay down the credit card or save the money? The teens, I’m pleased to report, chose to pay down the National Debt as their preferred option.
We the People Choose
If our children can see the wisdom in tackling debt before spending, shouldn’t We the People do the same? Our Founding Fathers warned against national debt and reckless spending. If we continue on this path, we will prove them right. Now is the time to make responsible choices and leave our posterity with a good example, not a huge burden.
This is Common Sense Civics and Citizenship.🇺🇸
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