With the Paul Ryan budget plan being passed through the greasy hands of 1% lackeys in Congress, the recent hike in student loan interest rates, and everyday Americans – in their struggle to make ends meet – slapping everything from gas and groceries to the mortgage payment on their plastic, it is hard to avoid the topic of debt.
When most Americans think about the “debt crisis,” we think of the national debt. Since our bills for the Revolutionary War started rolling in, the national debt has been a thorn in the side of the American people and our politicians. Some presidents, beginning with Andrew Jackson, made it their mission to eliminate the debt. Others, like Franklin D. Roosevelt, used the national debt as a way to invest in the future of America, investments that paid off with a thriving middle-class and secure economic times. Some spent without looking, carelessly and unnecessary on trumped-up conflicts, overzealous defense systems, even high-priced contracts to vice presidential cronies; and then there were those, like Ronald Reagan, who actually propagated totally fabricated economic theory because those who wrote the actor’s script were poised to profit from such lies for generations.
Though the national debt is indeed a crisis, the real problem exists far from the Hill in the check registers of average Americans. With more than 80% of Americans strapped with debt in one form or another, many of them owing tens of thousands of dollars in credit card debt alone, we have entered into a new kind of civilization – one of indirect indentured servitude.
Now, I’m going to be honest and tell you that my husband and I (living together 14 years) have no debt. We own our car; we rent our home; we funded our wedding with DIY, savings, and gifts; and we live within our means. I was blessed to have parents who were not only willing but fiscally nimble enough to manage their debt successfully and pay the portion of my college tuition that wasn’t covered by academic scholarships (they paid tuition for all four of their children – and since the youngest graduated a few years ago, they spend a week in the tropics annually – celebrating their financial freedom, I’m sure). To this day, to be honest, I don’t know how my parents accomplished so much with one income. I only know that when things were lean, they were really smart, and when things were lush, they were even smarter.
Money wasn’t really discussed in my family. There wasn’t much to talk about. Our needs were met – no labels attached; we vacationed mostly in tents; and complaints were only heard on the fourth Friday in February (do the math). Anything else you wanted, you earned the money for yourself. My working papers were signed a week before my 14th birthday, and I had my first job the week after. I worked from that week until I had my son two years ago. I, like my mother before me, am a stay-at-home mom – not because I can afford to be, but because it is (to my family) worth the sacrifices.
For years, I thought that people who had debt – aside from the obvious like cars, homes, or college – had it because they were foolish. I was raised to believe that if you couldn’t pay in cash than you couldn’t have it, and my first (and short-lived) experience with a credit card taught me how incredibly important it is to live by that rule. I watched people put their egos before their sensibility, brainwashed by the season’s must-haves to the point of financial disaster, a coach purse that carried an empty wallet and a two digit interest rate. I never felt sorry for these people. I still don’t.
The trouble today is that the majority of people in the sinking ship of personal economics are in it because they have to feed their kids, not because they have to wear Prada. True, there is an entire class of wanna-be-Joneses who are burdened with large homes, luxury cars, and blatant ignorance, but a growing number of us are feeling the weight of far more reasonable and unavoidable costs. The cost of living is climbing daily but the wages we earn don’t budge, stretching the resources of everyday people to the limit. In desperation, things like rent, electricity, food, and fuel begin making appearances on the monthly Visa statement with increasing frequency, while securities like health insurance and savings accounts go by the wayside.
Meanwhile, resistance to a life of poverty feeds the debt disaster by pulling in thousands upon thousands of young adults with every graduation ceremony. They may as well shackle you with a ball-and-chain as you cross the stage. With few prospects for those holding just a high school diploma, and not many more for those holding only bachelor degrees, students are being roped into loans they’ll be paying off until they retire, if they retire before reaching the age of infirm.
This vicious cycle of debt and struggle is peddled, of course, by none other than the filthy rich and their political custodians. Turning the wheels on the rack, stretching every monetary limb of those who have nothing left to lose, and wringing every last cent from our financial lives are those who have nothing left to gain. The people at the top are so disproportionately well-off that they have to get creative to spend the money they take from those who are literally going hungry. And all the while, the system in play is being purported as necessary, acceptable, and even healthy by a group of political vultures granted access by their criminal handlers to the rotting remains of the bloodied middle-class.
What will happen to these predators and scavengers when they have consumed us all? How will they feed their insatiable need for constant fiscal growth then they have absorbed all there is? When the rest of civilization lies in ruin? Will they then turn the chains of debt into chains of iron? Rounding up the poor, starving masses to do their bidding in exchange for food? After all, those who have nothing to trade, no money, no goods, have only themselves to give – only their physical resources with which to earn.
Will we witness offices in which people are paid in food rations? Stylists tipped with half empty tubes of mousse? Farmers whipped in their own fields? Not likely, but if you extract the flow of cash from the current scenario, it is exactly what you already have: people forced into slavery by their financial obligations, obligations determined by those on the receiving end.
How do we free ourselves from this system? How do the extorted beat the racket? The only thing that comes to mind is the shear (albeit bizarre) genius of Fight Club. However, since Ed Norton isn’t actually a split-personality with a secret army of dedicated blue-collars, and destroying a handful of buildings wouldn’t really reset the debt record, it just might be up to Occupy to break the silence and the chains of market slavery.
The first rule of Occupy is that you have to talk about Occupy.