I have written on this topic before but, with the current meltdown of the U.S. (world?) economy, it seems altogether fitting and proper to take another moment or two to smirk at this country’s hubris, hedonism and sheer lunacy. And I, as always, am fully prepared to do just that. Disclaimer: I am, I freely admit, (almost) as guilty as the rest of America in my fiscal habits but, heck, if you can’t make fun of yourself (while smacking everyone else upside the head as well), then what fun is there in writing a web log?

Once upon a time in America, there was a certain honor and dignity in frugality. It was seen, by most, as a virtue. "A penny saved is a penny earned", "save for a rainy day" and all the other quaint little Poor Richard’s Almanac sayings were actually believed in by the early Americans. We taught our children the fable of the grasshopper and the ant and how one saved for the harshness and depravity of winter and the other saved not. Preachers, who rode circuits from one little backwoods church to the next in those days and didn’t even imagine building mega-churches and tabernacles to gaudily proclaim how close to God the resident pastor was, sermonized on the almost spiritual nature of thrift and reserve. Even our government’s leaders at the highest levels were penny pinchers, Thomas Jefferson who died in bankruptcy being the most notable exception. Mark Twain, one of the wisest of Americans, thought his bankruptcy (from unwise investments) was so degrading that he spent the next 3 years of his life traveling the world, earning money to pay off every penny he owed. And he did just that. Once, long, long ago, we were a nation of, if not misers, certainly thrifty people.

I don’t know exactly when we lost our much-heralded self-control or when thrift (recast as miserliness) began to be viewed as a negative trait but, probably, it began after World War II and was ushered in by the nation finding itself in a post-war employment boom. Everyone - women having joined the workforce to create the "two-income family") had work and America was cranking out goods and services for the nations of the world shattered by the devastation of WWII. Europe was in tatters; Asia, no less so. It was America, alone, who was not only untouched by the bombs of war but was at a level of Gross Domestic Product that equaled or exceeded the remainder of the world, combined. Jobs were plentiful, pay scales (and unions driving them) were on the upswing and goods were cheap. Life was good. In fact, life had become so good that our current President ventured that the best way to show the 9/11 terrorists that America would not be deterred by their assault was - and I am quoting now - "go shopping". Sage leadership and constructive guidance amidst tragedy apparently, died in America with Lincoln and, worldwide, with Churchill.

Those who had survived the dreadful "Great Depression" never lost their sense of the importance of thrift. My parents both worked but, unlike the Escalade jockeys of today, they saved their money. My folks had absolutely no concept of credit and, if they couldn’t pay cash for something as essential as furniture for an empty house, they wouldn’t buy it until they had socked enough away to pay cash for what they needed. When their son reached 14 and was eligible for a "work permit" (required to have a job if you were under 16 years old), I got one, promptly followed by a job. I had one - a job, that is - every summer after that until I escaped to college. Even that happy time had its double-edged blade: the good news was that my parents were proud and all too happy to pay for my tuition and books. The bad news: I would have to get a part time job at the University to pay for my housing and meals. Well indoctrinated in the mindset of Depression-era parents, it really didn’t seem like a big deal to me. When I wanted to go to medical school, I made my parents profoundly happy when, struck by a full dose of independent spirit, I joined the U.S. Army and relied on Uncle Sam to pay all my expenses. Lesson learned.

I was, looking back, lucky. I didn’t like it at the time but, then, some of the most valuable lessons I have learned over my years have, at the time, been painful. Most of the children of the post-World War II years (the so-called "baby boomers") and, now, their grandchildren (whatever generation you wish to call them though "Generation X" seems sadly apropos) were less fortunate. They, also, grew up in those golden times of excess and learned an entirely different set of values. Parenting under the popular mantra of the times - to whit, "I want my children to have it easier than I had it in life" - children were overindulged, spoiled and taught the wonderful Utopian concept of "entitlement". Our nation is, over the past, oh, 10-15 years, now stuck with cleaning up the droppings of the chickens that have now come home to roost.

Before World War II, the savings rate of the average American was near 20 percent of their income; by 1980, that rate had fallen to 4 percent. Now, as if it could actually be possible, we Americans have a "negative" (which is to say, less than zero) rate of savings. I can only surmise that means that what little we have saved, we are now drawing out of the bank to spend. And, then, there is that wonderful development of the 20^th Century we call the credit card. Today, Americans have an average of 9 credit cards per capita and carry a average debt (credit cards only) of almost $20,000 per person.

We are, in brief, in hock up to our eyebrows and, with the latest recession upon us, show no evidence of ever crawling out of this fiscal quagmire. And, that beacon of leadership and guidance, the Federal Government, owes a budget deficit that encumbers each and every citizens drawing breath with another $20-30 thousand dollars. If you think that is not going to actually be paid by you, personally, think again. It will be and it will be in the form of higher taxes on income as well as higher sales taxes on the needless things you still buy little Buffy and Jody to keep them entertained and, not coincidently, not bothering you in the evenings after work.

So, what are we to do, Mr. and Mrs. Spendthrift? We already are starting to see some of the coping mechanisms the ever-inventive American public has come up with. Perhaps, we should just shoot our family and ourselves in the head and just say "Sayonara" to the hard challenges of keeping a balanced checkbook. Similarly, when someone (say, your mortgage company) demands you pay your house payments, you might choose, instead, to shoot yourself (nonfatally, of course) in the hopes that they will forgive your debt. If you are really lucky, you might have a wacky enough Congressman plead your case in his esteemed assembly of like-minded buffoons and actually have your debt forgiven. [You can’t make stuff like this up, folks]

Clearly, when it comes to financial responsibilities, my fellow citizens don’t have a clue as to what might actually solve the problem. For example, advising someone to "stop buying stuff that you don’t need" sounds like Mandarin gibberish to most. Of course, that sort of advice is so entirely alien it is about as likely to be followed as "stop breathing!" or "work two jobs, if need be" or "cease and desist from talking on a cell phone when you enter a professional office". Better still, "quit having children you can’t afford or can’t name the father of". Yeah, that last one will be taken to heart, I am quite sure.

While it is only a start and will certainly only begin the process of regaining a measure of reigning in your runaway credit hearse, you can learn a new word in your parent-child dialogue. It is not a long word nor is it difficult to pronounce. While I have no reference to cite or documentation to fall back on, I would be willing to proclaim it is one of the oldest words in every language of the world - ancient and modern. It is, to those of you unfamiliar with it, the word "NO". It rhymes with "Oh". If you are a fan of Snoop Dog, Bow-Wow or 50 Cent (my personal favorite), it also sounds like "Ho". It is defined as a "negative response" as in:

Child: "Mom, can I have twenty dollars for a new CD?"

Mother: "No, you may not."

At first, your family may respond with a quizzical, possibly blank and disbelieving stare. Remember, they have not heard this word either. They have only heard its antonym, the much more common "yes" which sounds like "best" (without the "t") or "guess". "Yes" is universally understood and much more commonly used. But, with practice and judicious repetition, you will become comfortable using it. Your children might not ever accept it, especially the first or second time they hear it, but, if you are consistent, they will begin to understand what counselors have been telling rape victims for years: "No means NO!" Hard lessons are often the ones that stay with you the longest.

That, gentle reader, is where it all begins. Just as respect for others, a sense of family bonds and gentility begin at home, so does thrift. If America is ever to extricate itself from the current sinkhole, that is where the solution lies.