It’s time to reverse the national debt trend
When George H. Bush came into office, our national debt was around 5 trillion dollars. The same year there was a tax cut and we started two wars. A decision was made to borrow the money to fight the wars and rebuild the countries. When he left office there was 5 trillion dollars additional debt, making the total national debt around 11 trillion dollars.
The national debt has risen to around 17 trillion dollars under President Obama or around 6 trillion increase (thanks in part to recession). Can our democracy reverse this trend? There was no national debt for the first 150 years after our government was established.
Most of our legislators and members of our executive branch of government are very successful with their personal financial programs, but they are not always successful in group decisions for our country.
No democracy can survive long-term unless it has the courage to tax itself enough to pay expenses.
RUSSELL POLSTON