On Veterans Day we thank our veterans for their service. I would like to personally thank our veterans. Especially all of the veterans in my own extended family.
One thing we don’t talk about on Veterans’ Day is the need for the rest of us to sacrifice. The recent Houston Bond elections are a great example of this. We don’t want to raise taxes so instead we borrow money for future generations to pay off at a higher price.
As a community we had two other options. 1) live without and 2) raise taxes to pay for our expenses. I hate higher taxes so option 1 would probably be my choice. But people don’t want to hear "no".
There are times when you need bonds, but mostly not so much. Yet the Harris County voter propensity is to pass all bonds with few exceptions. Which is great for me. But not for your kids.
Loren Steffy says it very well in his column (the column was not about bonds, I just like the quote) in the Houston Chronicle today. His words from It’s hard to save $1 trillion:
As a nation, we are spending ourselves into a corner. We now face fiscal dilemmas that can only be addressed by huge numbers.
We embrace the comfort of unrealistic solutions so we don’t have to confront the difficult answers.
The real answer is the one few in Congress want to give because few in America want to hear it.
Our current course of spending beyond our means is unsustainable, and the longer we wait to address the problem, the greater the sacrifice will be.
That’s the answer that should give us all pause.
Happy Veterans Day! And on that note, we all need to sacrifice a bit as our veterans have. Now go buy a used smaller car please. Oh wait….