What to do with our debt? | IAT SmartDial® Solutions

What to do with our debt?

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Discrepancy between the way the federal government handles their budget and how they expect citizens to be fiscally responsible.

Last week, like many of you, I closely followed the “Federal Government Shutdown” roller coaster ride.  As the predicted shut down loomed increasingly, closer the reports about the pending economic disaster grew.

The article, “A government shutdown? Yes, please” written by Jennifer Lawless and posted to CNN.com caught my attention.  Lawless states that the “budget impasse suggests that a short-term shutdown is probably in Boehner, Reid and Obama’s political interests.” She makes a case that a government shut down for several days or even weeks would give each political party the political ammunition to argue that they didn’t cave-in to the other’s demands.  I’m bothered that the budget debate became so politically charged instead of fiscally focused.

Personally, I’m disappointed with the narrow focus of the current budget debate.  Politicians argued about a mere $50 to $100 billion budget cut and finally agreed upon a $74 billion reduction.  While $74 billion is difficult for most to comprehend it is even more mind boggling that the current federal budget of $3.5 trillion must be funded with a $1.4 trillion loan!  I’m surprised that Americans, business owners and even politicians aren’t demanding more drastic budget cuts.  Don’t you think our politicians missed the mark by reducing the budget shortfall by only 5%?

I find it ironic that as a result of the great economic bail-out new laws, regulations, rules and oversight committees were put in place with the altruistic idea of safeguarding the people against debt, BUT the government keeps going deeper in the red.

Everyday corporate credit departments and the receivable management industry work to increase payments on delinquent accounts. These organizations regularly communicate with hosts of people through a myriad of technologies (dialers, broadcast messaging, IVR communications, predictive dialing) with the united goal of improving cash flow by encouraging customers to pay their bills timely. Their efforts are critical to the economic viability of business.

Unfortunately, at times, receivables management activities are misunderstood and much maligned by the press and by politicians. On the flip-side, it is widely agreed that without these efforts, our country would suffer a tragic loss of jobs propelling the economy into a steep downward spiral.

With our government willing to freely use so much debt to fund their activities, what will happen when there are no more funds to borrow? Do we hire a collection agency to contact the federal government when they further delay payments on their debts?

Perhaps it is naïve of me to want and even believe that our government could balance the budget and pay off our national debt. I like to believe that I’m not naïve, but that I am optimistic. I’m optimistic that one day – hopefully soon – our government will take the right financial path by balancing the budget instead of binding us in the chains of debt and ever increasing taxes.

This article was written by Dave R