WASHINGTON – A record number of U.S. counties — more than 1 in 3 — are now dying off, hit by an aging population and weakened local economies that are spurring young adults to seek jobs and build families elsewhere.
New 2012 census estimates released Thursday highlight the population shifts as the U.S. encounters its most sluggish growth levels since the Great Depression.
The findings also reflect the increasing economic importance of foreign-born residents as the U.S. ponders an overhaul of a major 1965 federal immigration law. Without new immigrants, many metropolitan areas such as New York, Chicago, Detroit, Pittsburgh and St. Louis would have posted flat or negative population growth in the last year.
There’s no population growth without importing low-skill or unskilled illegal immigrants?
That’s seen as a salvation?
Give me a break.
The economic reality is that debt accumulation eventually strangles growth. Debt requires servicing, which consumes funds you would otherwise spend on investment and consumption. As that service rises as a percentage of your income your ability to drive economic expansion dwindles until it reaches the point that additional debt actually makes the economy worse rather than better.
We’re there folks. We crossed over.
But our government and most-particular our President refuse to accept this.
In publicly saying he does not desire a balanced budget, the president has in effect said that he will continue to increase our debt to other countries. This makes us beholden to those countries, and makes us more vulnerable economically as well as from a national security policy standpoint.
It’s not about desire. It’s about necessity.
This is about arithmetic and a failed policy that was evident as a failure three decades ago but which was followed anyway because it was “easier.” This is exactly like the man who gets up in the morning, is dragging, and takes a snort of coke up his nose to “perk up” and make it into the office on time.
That’s a ridiculously destructive thing to do, but he does it. When he starts it doesn’t appear to have any bad side effects. But indeed it does, in that not only does the drug cost money but worse it has an intermediate-term drag on the body, which means you need ever-increasing amounts to get the same effect.
But there is an indirect cost buried in there as well in the form of insidious and invisible damage to your heart. Eventually you will collapse in the morning instead of having a second or third snort, if you don’t stop.
And the bad news is that there is no cheap or easy way to stop. If you choose to quit before you collapse you’re going to have a very bad time for a while as you withdraw and rebuild your body and its resources. This will take time and there’s no way to shortcut it or evade the necessary pain.
Our government and our people have become addicts. We are denying reality and have been for quite some time. Our cities and towns are dying and nobody in our government — not Congress, not The Administration — nobody — will tell the truth. They will not risk the backlash today even knowing that the ultimate outcome will be far worse than dealing with it now.
We’re very close to being quite-literally done as a nation folks, and with The Fed and government playing “wide-open monetary blast” there’s no margin left to try to counteract a downturn.
And that downturn is already baked in the cake.