After almost two years of COVID created government bailouts, coupled with decades of lackluster economic growth and U.S. Government deficit spending, we find our country with a staggering national debt level of $28.5 trillion. Who can even fathom that number, and how can we possibly pay down that level of debt short of suffering a total disruption to our standard of living as a nation?
Well, I have an idea of how to accomplish this momentous task, because we accomplished it in our very recent past. At the beginning of World War 2, after a decade of suffering through the Great Depression, we had accumulated a national debt level of $24 billion. Five more years of fighting World War 2 and the debt level had ballooned to $251 billion. In today’s dollars, after 1,491% inflation, that would be almost $36 trillion in 2020 dollars. You might notice that is more than our current level of debt.
It is amazing to realize that the entire sum was virtually paid off by 1974 (3 decades), at the same time our country’s standard of living blossomed. How is it possible that we accomplished this? What was our model?
We decided to take two actions we’ve seemed to have forgotten about in the past four decades. First, we undertook to provide massive loans (The Marshal Plan) to aid the rest of the world, our former enemies included, in rebuilding the economic and societal foundations of their countries. The good will and the economic stimulus this provided was a huge benefit to economic growth throughout the world, especially in the United States.
Second, we made massive numbers of wise decisions to grow our nation’s economy as fast as possible. This included tremendous efforts to educate our population, to help millions buy homes and cars, all of which generated plenty of good jobs creating a incredible multiplier effect throughout our economy.
Taxes were high due to the massive debt our nation and population took on to achieve all of this, but everyone pitched, corporations and individuals alike, because it was good for the nation and our entire population, as all were benefiting from the “team effort”. This optimism, the “can do” mindset set the tone for decades of unimagined growth.
We have the tools right now to replicate that success, and we are on the cusp of creating a new breed of entrepreneurial companies to bring us technological advances we can’t even fathom. New products, new and far more efficient services making our lives healthier, safer, easier and more affordable, leading to a higher standard of living.
So what more do we need? More commitment to service and more helpfulness to others. More creativity. More of an attitude of helping everyone get better and do better. Deeper relationships and more understanding of others’ points of view. Better technical skills coupled with better emotional skills.
Our online course and individual coaching course, 5 Steps to Elevate Your Career and Professional Skills and Success is exactly what will advance your career and enrich your life. Click HERE to enroll or call 574-850-9912 to discuss your questions. Remember, a single discovery can change everything for you.
Tom Searcy, Board Certified Coach
www.onesinglediscovery.com
574-850-9912
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