Government

Why Should We Worry About the National Debt: Questions and Answers | Committee for a Responsible Federal Budget

As we enter the next campaign, promises of more goodies for us all abound, free college, M4A, guaranteed government paid jobs, free child care, money to every newborn, increased Social Security benefits and more.

Each of these promises will require more spending and commitment to a long-term liability paid for by someone or increasing federal deficits even more. That someone is future generations.

Even if every new promise was fully funded by new taxes, that still leaves us with $22 trillion in debt and growing, and depleted Social Security and Medicare trusts, not to mention unknown consequences on the economy of much higher taxes on individuals and businesses.

A politician truly concerned about America and its people would be telling us of a comprehensive plan to manage our current deficits and debt and trusts and then talk about the true cost of new government programs and exactly how they will be funded.

In all fairness to politicians, many, perhaps most, Americans are their ally in all this; readily accepting the promises and rhetoric and rarely asking the relevant and tough questions … and probably not caring.

: Why Should We Worry About the National Debt: Questions and Answers | Committee for a Responsible Federal Budget

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1 reply »

  1. Why should people care about the national debt when they don’t care about their own personal debt. More than 2 out of 3 U.S. adults (68 percent) don’t know when, or if, they will ever be debt-free, according to a new CreditCards.com survey (Jan 2018). 30 percent of respondents who said they thought they would never be out of debt, and the rest doesn’t know when they would be debt-free. It is just sad.

    When you have politicians buying votes with free stuff, do you care? These people do not realize a debt free America would return a few extra tax dollars into their pockets. But we all know that government is not going to cut taxes and return money. They will spend that money elsewhere.

    I doubt that Ross Perot would get any votes today since he would be talking nonsense compared to everybody else.

    Liked by 1 person

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