Fighting Debt

If a huge cephalopod, say like a really Giant Squid, had a human hand on the end of each of its ten tentacles, there would still not be enough fingers left to point at all the causes being singled out as the reason our economy is in such a mess.  Politicians and bankers blame each other.  Republicans and Democrats do the same while Libertarians are convinced the major parties were both complicit.  Lobbyists fume while courts take sides, often opposing the decisions made by their cohorts in another district.  Generally though, that amorphous entity labeled “The Government” gets most of the blame.  Hence we have the Tea Party phenomenon where citizens rail against health care reform while carrying signs demanding that The Government keep its hands off our Social Security.  However, possibly the biggest single cause of our woes should be laid individually at our own feet since the explosion of debt seen at both the household and corporate level over the last thirty years is where the pain is being felt the most.  Parallels between today and the 1930s are frequent, but the Great Depression seems to have ended because of a global conflagration rather than policy and stimulus measures.  While I would never advocate World War as a cure for what ails us, I would suggest we need to gear up for battle.  We need to fight this accumulation of debt tooth and nail.  Deleverage!  Win the War!  We must fight debt to the last man.  That shall be our rally cry.  To accomplish this on the scale that I fear may prove necessary will not be either easy or cheap.  Therefore, the government may need to bank roll this effort by selling War Bonds to finance this Great War on Debt.