The National Debt May Be the Downfall of the U.S.
Opinion Advocates for ideas and draws conclusions based on the author/producer’s interpretation of facts and data.
The national debt has reached $31.4 trillion. The debate will soon begin in Washington between the President and Congress about permitting our national debt to grow even more. What’s another trillion or two between friends?
President Biden and Congress should freeze overall spending. Any extension of the debt ceiling should be matched by corresponding real cuts in spending.
Implement pay-as-you-go budgeting, means testing for all government assistance and sunset provisions for agencies and programs that have completed their missions. End pork-barrel member item spending, stop paying farmers to not grow crops and abolish corporate welfare subsides via tax deductions.
Everyone needs to do their fair share in bringing the budget deficit under control. It is time for government to destroy its own credit cards.
How ironic that after winning the Cold War against the Evil Empire of Communism, it may be mismanagement of our economy that results in a decline of our standard of living. It may also end our reign as the world’s superpower as we become the world’s super debtor nation.
It’s time for President Biden and Congress to come together and end this madness.
Larry Penner
Great Neck, N.Y.
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