The stock market just blew past an all time record of 23,000,

Corks are popping and toasts are being made as the celebration begins.  Much ado is being made over this milestone.  Anticipation of a big tax reform bill from Congress is helping to fuel this market mania.  That is all well and good, BUT…

There is a danger looming!

The national debt has also screamed past a new all time record.  It is now nearly $ 20 1/2 TRILLION dollars.   It continues to grow by the second.

Congress has been unable to repeal the Billions of dollars of Obamacare taxes, which leaves a heavy load for taxpayers to carry.

The cost to the Federal government for disaster assistance due to hurricanes, fires and floods will be in additional Trillions of dollars.  The proposed debt forgiveness for Puerto Rico alone will top $74 Billion dollars.  Make no mistake, terrorists are continuing to plan attacks that could include our electrical grid, the internet, significant hacking and man-made disasters that could create untold financial consequences.

There are, no doubt, people much smarter than me who are looking at the big picture.  At least we should HOPE they are.  It just seems to me that along with the celebration over the Stock Market gains, we should be having a national conversation about fiscal responsibility and balance, given these other monumental challenges.  If we don’t give adequate attention to the pressures from the negative side of the ledger, we could be racing headlong into a national and worldwide financial meltdown.

Individually, I believe the best thing a family can do is eliminate/reduce their debt on every level.  Being debt free may not be a complete solution to a possible financial meltdown, but it would be an excellent place to start.

We shouldn’t ignore the red flags that are waving in the winds of celebration.

***Gordon Howie is an author and CEO of Life and Liberty Media***

“It’s not about right or left, it’s about Right or Wrong.”

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