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ly recovering after the U.S. economic recession and limited access to credit sent the industry into a tailspin in 2009. From January through April, survey respondents provided financing for $19.6 billion of equipment purchases, up 27.2% from the same period in 2010. "All of April's business performance indicators appear to provide evidence that the equipment-finance sector continues to gain momentum," said William Sutton, president of the Washington-based finance association. Loan portfolio quality indicators in the survey improved in April, suggesting the industry is beginning to overcome the bad loans and tenuous credit of some loan recipients. Loans and leases past due by more than 30 days amounted to 3.3% of survey respondents' net receivables last month, down 3.6% from a year ago and down from 3.5% in March. Loan charge-offs amounted to 0.8% of respondents' net receivables in April, down from 1.6% in April 2010, and down from the 1.3% in March. Seventy-six percent of the loan applications submitted during April were approved, up from 69% a year earlier and up one percentage point from March. The year-over-year improvement reflects easing credit standards as lenders displayed imp Admiral Mullen told the West Point graduating class that, “I fear they do not know us….I fear they do not comprehend the full weight of the burden we carry or the price we pay when we return from battle.”
It makes it far to easy for our political leaders to commit armed forces to battle when their own children will never have to fight or die. Or to continue in a war they are unable to win, but unwilling to end because the broad mass of Americans don’t rise up and say no. Or commit overwhelming force to a war we need to win, because they worry voters would balk if they knew the real price tag in lives and treasure.
When only a tiny fraction of our people pay the price of our politicians’ mistakes, those politicians are rarely held accountable. More Members of Congress have been to law school than officer candidate school. In recent years our presidents have not been veterans, or if so, not combat veterans.
We’ve come to expect that our presidential candidates spend several years in law school or business school – but it’s a rarity if they’ve done a tour of duty in the military. Does that leave them lacking as leaders when one of the most important constitutional responsibilities of a president is to be commander in chief, or Congressmen to vote a declaration of war and appropriate funds for the common defense?
What do they know of the sacrifices and responsibilities of our servicemen and women, when the closest they’ve come is marching next to them in a Memorial Day parade?
We’re now engaged in at least two unpopular wars -- a third if you count Libya -- and none of them have gone well. Our nation is understandably war weary and concerned about the burden on our nation’s budget at a time of financial crisis. As a country, we seem more disconnected from each other – and from our leaders – as any time in our history. And the notion of “ask not what your country can do, but what you can do for your country” seems as alien and anachronistic as a victory garden in the backyard. Isn’t it time we think again about national service?
Not bringing back the draft, or mandatory military service -- the military doesn’t want that any more than the population. But what about some sort of national military or public service for America’s youth?
Every few years someone introduces legislation calling for national public service. In times of plenty, it was unrealistic. Why would any of our young people want to give up high paying jobs for a year or two, for low paying jobs of sacrifice? But times are different now. Those high paying jobs have dried up, and our young people often find no jobs at all. Youth unemployment is at an all time high, and unlikely to improve anytime soon.
Now is the time to seize the moment, and make lemonade out of lemons.
Let’s reconsider national public service, and ask that our 18-year-olds to spend 18 months serving their country – in the military, rebuilding our parks system, teaching in schools, helping out in senior citizen centers.
Today our high school and college graduates compete fiercely for internships – often unpaid – just for the chance to get some real life experience and get off mom and dad’s couch. Wouldn’t it be better for them to spend 18 months putting something back in, doing something to help the country, moving beyond their comfort zones, meeting their fellow countrymen from all walks of life? Understanding that America is not a collecti
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