by Samuel E Burns
Americans are continually bombarded by news of the mushrooming national debt. Yet the proposals from Washington are one new federal program after another, with price tags ranging in the billions of dollars. These expenditures, they claim, are absolutely critical to the health and future of the nation.
After the initial shock wears off, repetition tends to have a numbing effect on the general public. Big government liberals have dragged America towards this physical abyss. Trillions of dollars of increased debt every year, seems to cause little or no distress among voters. Then the political elite can write checks to their favorite special interest groups.
Our credit rating has been downgraded and if nothing is done by Congress to change this, then another downgrade is expected. This downgrade in our credit rating, by Standard and Poors, is the first in our nations history. The only action that Congress can come up with is to raise the debt limit. We are expected to believe that multi-billion-dollar expenditures will cure our economic woes. In truth, the growing insolvency has caused much anxiety in the world's financial markets.
Before the years end, the interest that we pay on the debt could outpace the monies brought in to the treasury through taxes. The question remains, whether we have enough time left to solve the problem or do we continue down this rabbit hole of national debt. If we choose the latter, then all of our other problems will be of no consequence. We will be bankrupt.
With the Democratic Convention starting this week, I do not believe that there will be much talk at this Convention on our National Debt as over 5 Trillion has been added in the past 3 1/2 years.
Let our voices be heard.
Americans are continually bombarded by news of the mushrooming national debt. Yet the proposals from Washington are one new federal program after another, with price tags ranging in the billions of dollars. These expenditures, they claim, are absolutely critical to the health and future of the nation.
After the initial shock wears off, repetition tends to have a numbing effect on the general public. Big government liberals have dragged America towards this physical abyss. Trillions of dollars of increased debt every year, seems to cause little or no distress among voters. Then the political elite can write checks to their favorite special interest groups.
Our credit rating has been downgraded and if nothing is done by Congress to change this, then another downgrade is expected. This downgrade in our credit rating, by Standard and Poors, is the first in our nations history. The only action that Congress can come up with is to raise the debt limit. We are expected to believe that multi-billion-dollar expenditures will cure our economic woes. In truth, the growing insolvency has caused much anxiety in the world's financial markets.
Before the years end, the interest that we pay on the debt could outpace the monies brought in to the treasury through taxes. The question remains, whether we have enough time left to solve the problem or do we continue down this rabbit hole of national debt. If we choose the latter, then all of our other problems will be of no consequence. We will be bankrupt.
With the Democratic Convention starting this week, I do not believe that there will be much talk at this Convention on our National Debt as over 5 Trillion has been added in the past 3 1/2 years.
Let our voices be heard.
No comments:
Post a Comment