https://www.frontpagemag.com/fpm/2021/12/our-ship-state-looks-titanic-bruce-thornton/
The “ship of state” metaphor first appears in the works of the late 7th century BC poet Alcaeus. An aristocrat from the important Greek city of Mytilene on the island of Lesbos, Alcaeus’s metaphor of a ship endangered by a storm represents the political upheavals caused by a succession of tyrants vying for control of the city––the surges and waves of civic violence, political turmoil, and tyranny that have damaged the ship’s hull, sails, and tackle, and threaten to sink it.
Though tired after 2600 years, the metaphor is still useful. We also are in the midst of political storms––political violence, the “soft despotism” of federal overregulation, the illiberal “wokeism” attacking our unalienable rights, and the serial damage to the Constitutional institutions that have kept us sailing free for over 200 years. But a variation of the metaphor more telling for our predicament is the sinking of the Titanic, the “unsinkable” ocean liner that fatally struck an iceberg in 1912. However, rather than one iceberg likely concealed from the Titanic’s watchmen by a nighttime optical illusion, we are confronted in broad daylight with an archipelago of icebergs that have been visible for decades now.
Take the looming federal debt, deficits, and unfunded liabilities. Our national debt has reached $28.43 trillion, 133% of GDP; annual budget deficits hover around $3 trillion; and there are $162 trillion in unfunded liabilities, including Medicaid, Medicare, and Social Security––all relentlessly growing without any serious effort to reform the “big three” entitlement programs that eat up half the annual budget. More ominously, these frightening numbers have occurred during a time of anomalously low interest rates. Just a one percent rise in rates would swell interest payments to $530 billion a year––more than we spend on Medicaid.
Yet despite decades of warnings about the approaching fiscal calamity, both parties cannot summon the political will to turn the ship away from disaster. At best, we have one party occasionally trying to slow it down. Worse, the covid panic last year added to the debt $4 trillion in mitigation spending. Biden so far this year has added just under a trillion more, and another $1.9 trillion––$4.6 trillion if its provisions are extended for 10 years––in the pork-laden “bipartisan infrastructure” bill. And instead of slowing down, he’s angling for yet another $5 trillion in spending of money we don’t have.
It’s as though the captain of the Titanic ordered “Full speed ahead!” when warned about the iceberg.