I found myself working late last night, and thus, did not get a chance to watch the President's 2008 State of the Union Address. However, I did read through the transcript of his speech upon returning home, and in so doing, noticed that something seemed to be missing.

The President spoke on a wide variety of topics, but there was one word he never uttered: debt. Not once did the President mention the national debt, a debt that is now increasing so rapidly it threatens the future sanctity of our democracy.

To be fair, there was a passing reference to "crippling deficits," although the context made these deficits seem like a distant danger rather than an all too present reality.

And while I can wholeheartedly empathize with and relate to the economic difficulties now faced by many Americans, I also find the nature of the proposed economic stimulus plan to be somewhat ironic.

After all, several current problems in our economy have been created by debt. For example, the subprime mortgage mess has been caused by debt that homeowners could no longer afford to maintain. Likewise, consumer credit defaults have been increasingly common in an environment where prices (and spending) are increasing much faster than wages (and saving).

Many of our fellow Americans are in economic distress due in large part to debt, and yet the government intends to solve this problem by borrowing money to fund rebates for our taxpayers. In other words, it seems politicians are trying to solve a debt problem by going deeper into debt.

“The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.” - Martin Luther King, Jr.

I'm trying to apply for a research grant...

“The Center for Retirement Research [at Boston College] sponsors the Steven H. Sandell Grant Program for Junior Scholars in Retirement Research on an annual basis. The program is funded by the U.S. Social Security Administration (SSA) to provide opportunities for junior scholars from a wide variety of academic disciplines and senior scholars working in a new area to pursue cutting-edge projects on retirement income issues.”

On paper, I'm obviously not the ideal candidate. But there are supposed to be eight winners in total, so I figure it's worth a shot. I even wrote to one of individuals helping to coordinate the program, and received the following reply:

Mr. Florzak,

...

A major objective of the Sandell program is to help and encourage young scholars (or senior scholars in other fields) to focus on issues related to the provision of retirement income. Your research interest is clearly within the scope of the Sandell program. You seem to be “entering” the field, and could qualify on those grounds; though you might not be a full-time scholar (this is not clear from your email), which could diminish the attractiveness of your proposal. To win a grant, however, you would need to be affiliated with a university or other non-profit organization. This is necessary for various administrative reasons. Finding such an organization might not be an insuperable barrier. The key issue is that the grants are for academic research, with high standards as to the literature review and proposed methodological approach. If your project could meet these standards, and you are affiliated (or can affiliate) with a suitable organization, I encourage you to apply.

...

******* *******
Associate Director for Research
Center for Retirement Research at Boston College

Although a grant might certainly aid my research, I'm not so sure about accepting the monies, and would probably choose to respectfully submit a budget proposal for zero dollars. I work hard to fund my efforts, and that's the way I like it.

Besides, it's not about the money--it's about the opportunity. Preparing a paper for the academic community would be a great opportunity, and the possibility that this research might then be presented to and considered by the Social Security Administration would be simply awesome.

However, I doubt I'll even get the chance to finish the application process, as I still lack the required two letters of recommendation and endorsement from a university or non-profit organization.

It's discouraging to think that as hard as I've worked these past three years, I cannot yet find even one person in the academic community willing to write me a letter of sponsorship.

Oh well, that's life. I am disappointed--but not defeated.

As I had intended to decline the money anyway, I suppose it matters little whether I am formally selected for the grant. And so, regardless of outcome, I will prepare the research I have in mind.

For far too long, I have strained to make deaf ears hear, and such efforts have proven a consuming distraction. I must humbly return to the work, refining my ideas for merit rather than popularity.

Though others doubt, I lose not heart.

On Saturday, I purchased $2,008 worth of electronic Series I savings bonds, which should post to my TreasuryDirect account later today.

Even though I could certainly think of other ways to spend (or save) that money, I figured it was time to jumpstart my 2008 New Year's resolution, and this amount seemed fitting.

A few weeks ago, I bought myself a new winter jacket. It's one of those premium goose down jackets, and I've been wearing it a lot lately. I really like it.

In fact, I like it so much that I ordered ten more just like it...

I had been thinking about how to carry on the Christmas tradition started last year when I donated blankets to a local homeless shelter, and thought that if a new jacket could put a smile on my face, it could certainly do the same for someone else.

I asked a friend if he thought buying the jackets was a good idea, and he enthusiastically agreed to share in the costs. And so, we placed an online order for another ten jackets on Christmas Eve.

The shipment finally arrived last weekend, and we took these brand new jackets down to the local homeless shelter the next day.

Several months ago, we had filled the back of a pickup truck with food, and the woman at the food kitchen wanted to know the name of the organization making the donation.

"Ourselves," we replied.

This time, there was a cute young volunteer to accept our delivery.

When she saw all the jackets, she inquired, "Do you guys work for Eddie Bauer?"

"Nope," I replied with a laugh.

To be perfectly honest, more often than not, I'd like to congratulate myself for these efforts. And I was starting to feel pretty good about myself for buying those jackets--it kind of made me feel like a big shot.

A few days later, it was raining as I left the office. Not wanting to get cold and wet, I quickly hailed a cab for the trip to Union Station.

Many nights when you pull up to the train station in a cab, there is some homeless guy on the street who runs up and opens the door for you. I don't usually like that. And I especially don't care for the way in which some of these guys will then ask for a tip.

However, on this particular evening, no one opened the door for me. After all, we were out in the open, and it was pouring rain.

But just as I stepped out of the cab, a man rushed up and held out an umbrella for me. He was obviously homeless, and holding the umbrella for me meant that he himself was getting soaked.

As we neared the station vestibule, he still had not asked for anything. Even so, I handed him a crisp five dollar bill.

"Thank you," he said as I walked away--but I didn't even look up. "Thank you! Thank you sir! Thank you sir!" He said it loudly enough for everyone around to hear. And I just kept walking--I never even turned around.

He may or may not have been just another drunken loser in the eyes of the world, but that man did me a kindness that many men of higher standing in this life would not have done. After all, I had thought myself a great guy for buying a few jackets, but in a way, that man put more of himself into holding an umbrella for me than I had in buying jackets for those like him.

I was humbled.

Some friends invited me out on Thursday night, deciding to visit the local riverboat casino for some temporary amusement. Gambling has never had much appeal for me, but even so, I reluctantly agreed to join them.

After spending time just watching everyone else, I finally decided to try a slot machine for the first time in my life. Perhaps it was beginner's luck, but I wound up winning an $80 payout--and cashed out immediately.

Then on Friday, I called the cable company in regards to a simple question I had about my bill, and the friendly phone representative offered to reduce my charges by $22.96.

So I went down to the bank and used these bonus funds to purchase another $100 savings bond (Series I).

I've never heard of anyone trying to finance an individual share of the national debt, especially not as part of a New Year's resolution. And to be perfectly honest, I'm already starting to have second thoughts about the whole thing...

After all, why couldn't my resolution have been to date as many pretty girls as possible? Compared to my current goal, it might have proven equally challenging. But then again, it might also have been just as expensive!