“The rich rule over the poor and borrower is slave to the lender.”

– Proverb 22:7, NIV

“When you run in debt; you give to another power over your liberty.”

Ben Franklin

“We must not let our rulers load us with perpetual debt.”

Thomas Jefferson

The Debt Problem (Credit cards, Student, National)

Today, we are at a significant crossroads at which the next generation needs to stand for themselves. The debt crisis and the problems that it will cause my generation are two of the major reasons I have decided to run for Congress. So I ask you, if you are young, do you want to live through a Great Depression? If you are older, do you want your children and grandchildren to suffer through something that your grandparents have told you about? Something that you have never had to experience.

Our current legislators, no matter what their party, seem to neglect this. They don’t seem to realize the gravity of the situation. As a conservative, I fully support the free market, but spending is out of control. Someone needs to take a stand for my generation. Someone who has the most skin in the game because they will be impacted the longest by the policies instituted in D.C. Someone who understands numbers and will work to pass legislation that will get spending under control. That someone is me!

Credit Card Debt

No one is discussing this, but the fact that credit card debt is one of the highest debts in our nation is alarming because many companies give out loans to people that cannot afford to pay them back. They then charge unfair interest rates, ranging from 10 to 25%, taking advantage of the individual’s desperation. Education is the solution to this problem. However, for those who have already incurred this debt, we cannot just forgive it and take it on as a nation, because that would add to our national debt and would encourage more dependence on the government.

Student Debt

The same is true for student debt. Because of the exorbitant cost of higher education, many students must borrow money to complete their degrees. This leaves them in debt before they even begin their careers. The cost of education at public universities needs to be within reach of students who qualify to attend. However, for those who already owe student loans, they need to be held responsible for their debt. The problem is that the interest rates charged on these loans are too high, making it difficult for students to pay them off in a reasonable amount of time.

National Debt

Our national debt is 22 trillion dollars and climbing. I think our major problem is not that we have too many jobs or too many people benefiting from the government, though these do contribute. The major issue is that the U.S. government is the most wasteful organization in the history of the world. The inefficiency and lack of competition associated with the government and government contracts is our problem. We as a nation waste trillions of dollars by paying two to four times what items would cost in the free market. We must stop wasting money and start working smarter, as a nation.

“Change the World and Trust in God”

-Thomas W. Brown Jr.

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