Thrift is good for us, government

Editorials

June 30, 2009

Editorial

Anonymous The Commonwealth Journal Tue Jun 30, 2009, 09:30 AM EDT

Go ahead and save. It’s OK. The country will survive. In fact, over the long run, we’ll all be better off.

Thrift is a long-term choice individuals can make and that city, county, state and federal governments can benefit from. When the private sector saves, it gathers the capital needed to start and manage businesses. When government saves, the country discovers its best hedge against future economic crises. An America re-learning the value of saving holds down the deficit and provides itself its own nest egg so that it borrows less from other countries.

Polls are beginning to show that Americans are growing nervous about the amount of spending generated from Washington today. The skittishness is not limited to President Obama’s policies: recently, the House of Representatives voted itself an 8 percent increase in members’ office expenses (allowances were $580 million in 2008, $609 million this year).

Before victory in World War II propelled the United States to unheard-of prosperity, this capitalist society embraced thrift as a virtue. People tended to spend only on what they needed; there was little thought of keeping up with the Joneses.

But the 1950s changed all that. Suddenly, new and shiny goods flooded the market, the advertising age took hold, and America was transformed into a society where “consumerism” ruled. Almost overnight, as families moved from the fringes into the new middle class, it wasn’t good enough just to buy an item — it had to be traded in every year for the newest model.

That kind of consumerist society still exists. But whereas government bodies like the U.S. House add extravagance, more of our citizens are cutting back now, becoming more determined to spend their money more carefully. Many of them are like the shopper interviewed on network news last week, who promised she’d continue to watch her pennies even after the recession eases.

It isn’t only those who’ve lost jobs or have been laid off taking up the cause of thrift. It’s as if consumerism itself is taking a back seat to a healthy foresightedness.

Will we continue to think this way when the economy recovers? Perhaps we’re like the proverbial boatman who, about to drown, vows to God that he will turn over a new leaf if only the Almighty would intervene and save him — then, when the crisis passes, he reverts to his old self.

We will see. As for Washington, however, it’s impossible to revert to anything if it refuses to even make the vow.

Text Only

Editorials

Total Power...
October 13, 2011 1 Photo
2011 Heart Walk: Steps in the right direction
It's always pleasant to report good news in which our entire community can participate with positive results.
Such is the cae with next Saturday's annual American Heart Association’s Lake Cumberland Heart Walk at Somerset High School.
As of today, some 250 Pulaski County residents are expected to participate by — quite literally—taking positive steps to improve their health. Their goal is to to raise $35,000 this year to fight heart disease and stroke, America’s No. 1 and No. 3 killers, respectively. However, with this encouragement, perhaps even more will join in the effort.
The non-competitive, one- to three-mile walk begins at 10 a.m. and includes teams of employees from local companies, along with friends, family members and survivors of all ages.
Activities will be available, including a kid’s zone, music, a survivor memorial, and helicopter appearance by Air Methods KY. Throughout the day, heart healthy snacks and information will be available.

October 9, 2011
'Golden Leaf' has lost its luster
For many years, tobacco was the undisputed king of crops in Kentucky, but the end of the tobacco quota program in 2004, a continuing decline in the number of smokers in the United States and increased competition from foreign-grown tobacco have combined to greatly diminish tobacco’s impact on the state’s farm economy.
To be sure, more tobacco is grown in Kentucky than any other state, but the 726 million pounds of tobacco Kentucky farmers expect to take to market this fall represent a drop of nearly 28 percent from a decade ago when 991 million pounds of tobacco were raised in the state.
The number of cigarette consumers in the U.S. has dropped dramatically in the last two decades, and here in Kentucky, state and local governments and employers have actually encouraged the smoking decline.

September 14, 2011 1 Photo
New Pulaski roads proving confusing
If you haven’t taken a wrong turn on Pulaski County’s recently opened network of new highways, you’re definitely in the minority. Braggarts around coffee shops saying driving on the new roads is a piece of cake are branded as smart aleck city slickers.

September 16, 2010
Honoring thosewho gave theirlives in service
In the years before he was nominated to the U.S.Supreme Court by President TheodoreRoosevelt, Oliver Wendell Holmes Jr. was thevoice of remembering those who served.Memorial Day became an official holiday throughan act of the federal government in 1967.

June 1, 2010
‘Human Training Wheels’
July 2, 2009
Thrift is good for us, government The government needs to be more thrifty.
June 30, 2009
Everbody used to love a parade Yes, those were the Good Ol’ Days; treasured memories of a time long gone.
June 29, 2009
We need the strength of others It's time to take part in the conversation.
June 29, 2009
War funding bill had unnecessary spending
June 26, 2009
More Editorials Headlines

Editorials

Search Results

Thrift is good for us, government

Editorial

Site Map