In any event, Mr. Young composes a completely unimaginative narrative:
My uncle has a great income but he's flat broke. He's maxed out on his credit cards but somehow when he needs another one they approve him. He's generous to a fault, always picking up the tab for dinner, even though he's probably in the worst financial shape of anyone at the table. He has no spending discipline; if he wants something, he just whips out the credit card and buys it! His “friends” are constantly taking advantage of him. Even if he stopped his crazy spending right now, it would take decades to pay off all of his debt. He's on the fast track to bankruptcy but doesn't seem to care; it's like he doesn't think it can happen to him.As I've noted before, one thing the Oklahoman likes to do is run letters that parrot major right-wing plutocrat/theocrat talking points. The advantage for them is that they can run things without having to substantiate them, and without any sort of responsibility for what's said. After all, these letters don't necessarily reflect the views of the paper! In this case, they want to push the notion that the country is "flat broke" even though it has "great income." Neither statement is true, but that doesn't stop Stu-- no doubt brainwashed on a heavy dose of Rush Limbaugh and Fox News-- from thinking it, and it certainly is something the Oklahoman wants to repeat time and time again.
My uncle's name is Sam. By the way, he has about 315 million other nieces and nephews. But like I said, he has plenty of income; his is just a spending problem.
How to we know we aren't "flat broke"?? Well, one great way to tell is to look at how hard it is for the US to borrow money. In general, when people think you're a risk, they either a) won't give you a loan, or b) will only do so at a rather high interest rate. So are either of these the case with the US government?? Not even close. Right now, it is universally agreed that the safest investment in the world is the US government. Indeed, the US can borrow with an interest rate of virtually zero. Virtually zero!! Does that sound like a country that is "on [the] fast track to bankruptcy" (as the headline to Mr. Young's letter reads)?
Also, how great is that income now? Actually, tax rates are historically low. It's hard to argue that the government is flush with money when, actually, is isn't. Well, it's hard to do that in the real world. But when it comes to the Oklahoman, they're happy to publish anything-- no matter how fraudulent (or plagiarized!!) as long as it parrots their plutocrat/theocrat agenda.
And finally, what about all that spending? My. Young complains that the government "has no spending discipline." But is that true? Actually non-defense discretionary spending (you know, spending on things like education, infrastructure, and even Sesame Street!), is at its lowest (as a share of GDP) in 40 years!
To sum up: The US isn't broke, it isn't getting much (in historial terms) in tax returns, and it is spending little (again, in historical terms) on things not related to defense or care for the elderly. To state it another way, My. Young's entire premise from top to bottom is 100% wrong. Unfortunately, that doesn't stop the Oklahoman from running such letters, aiding in their propaganda-driven effort to brainwash the masses into believing in their plutocrat/theocrat agenda.