Are we Indians really working for ourselves – Think!

See this video, the highlights of the video are,

1. The U.S.A. Govt. is having a national debt of 10 Trillion Dollars as of now.
2. It does not have money to run its daily expenditures as well and borrows money at the rate of 70 Billion Dollars daily at extravagant rates.
3. When Sr. Bush became the President of the United States (POTUS), in 1986 USA had surplus revenues and the American Citizens enjoyed a lot of privileges from the Government.
4. But when Bush Jr. became POTUS in 2001, things had changed due to the tax cuts given by Sr. Bush to woo the voters. But in 1990 he increased taxes and lost in 1992.
5. Bush Jr. had learned his lessons and did not want to upset the voters and went on giving tax cuts further giving rise to debt. The national debt kept rising and then 9/11 happened followed by the Iraqi and the Afghan war adding fuel to fire.
6. One after another expensive bills were passed like the MEDICAID, the MEDICARE and the SOCIAL SECURITY SYSTEM for Senior Citizens adding to further Govt. expenditures.
7. It was done with an ideology that US investments are stable and will give returns. However, the economic downturn of the 2008 drove the nail in the coffin.
8. This entire fiscal deficit that kept rising and depleted the US treasury was filled by taking loans from China, India, Japan and the Saudi as part of US Treasury Reserve Securities. In fact, currently an estimated 50 Billion Dollars from India, 100 Billion Dollars from China and 120 Billion Dollars from Japan are in the US Treasuries.

What do the above facts signify? Apart from highlighting the glaring faults in the way the US politicians handled the economy and in turn endangered the economy of other developing countries, it also raises a pertinent question that whether Americans as citizens deserve all the perks they are enjoying currently at the behest of other countries? If the American citizens are to pay taxes for all the perks that they deserve than they’d have to pay 68% of their income as taxes, something which they are not ready to do and are also not ready to accept the fact that they are enjoying more than they deserve because they do not vote for a Govt. that imposes taxes on them for the luxuries they are enjoying.

Rather, it is acceptable to the citizens that the Govt. borrows from other countries endangering their future. However, one key point missed out here is that the people of developing countries like India and China, who look up to the US as a greener pasture; should they stop working because it is the growing GDP of their countries due to their efforts that US is able to borrow from them and continue to splurge in austerity. Are we Indians really working for ourselves – Think!