Topic > Financial Dependence: A Problem for American Business

Voltaire once said, “It's not inequality that's the real misfortune, it's dependence.” This is true of Americans, who have a tendency to rely on others to find solutions to their problems. Overall, we insist on sharing the burden, for example by borrowing foreign money from countries like China to reduce our growing deficit. Likewise, American businesses depend on foreign relations, fueled by cheap labor to make higher profits on goods. On a social level, Americans depend on our government for welfare and financial assistance whenever the economy collapses. However, the health of the economy is a direct result of the condition of American businesses, and federal programs such as welfare are closely tied to our national budget. Therefore, it is crucial that the United States finds a solution to this problem and achieves financial independence. Americans depend on our government for several reasons, but mostly because of our fluctuating economy. When the economy worsens, unemployment soars and leaves families struggling. Relief comes only through welfare programs provided by the government. For example, the Great Depression brought with it several national programs that aimed at what historians have coined the “3 Rs”: relief, recovery, and reform. These programs stemmed from the New Deal, laws passed by Congress and President Franklin D. Roosevelt that offered financial assistance during a time of deep poverty. The Great Depression had been a reality check for countries around the world as to how far the world economy could decline. It was the result of several factors, one of which was the huge stock market crash of October 29, 1929 (also known as Black Tuesday). Investors had here... half the paper... the collapse of oil prices and the careless "laundering" of petrodollars in the Third World by the Western banking system overshadowed the situation. Now, however, the recognition of the truth is inevitable: no significant decision of national governments is free from international consequences, considering our financial situation as the largest debtor in the world. (9) As the world's largest debtors, we are responsible for our own problems, and needing the help of others to distract us from finding a solution is immature. As a country that is a world power and represents freedom, it is ironic that we are shackled by the shackles of foreign debt. Together, it is crucial that we reverse course and focus on saving our economy, rather than deciding what to spend the little budget we have. Financial dependence is the ultimate addiction, and therefore America's greatest misfortune.