As I See It
Has anyone seen what has happened to the national debt?
It used to be one of the most talked about issues on the campaign trail. Now it is ignored like your crazy uncle at Thanksgiving. Neither Joe Biden or Donald Trump are talking much about the national debt, which has risen to historic levels. The deficit is on track to reach $35 trillion this year. It is up sharply over the past couple decades, having stood at $5.7 trillion in 2000. And for the first time, this year, the government is expected to spend more this year on interest payments than on defense. The $35 trillion in debt translates to about $100,000 per person in the U.S. Who is to blame? Just about every President. Tax cuts adopted by George W. Bush added some $8 trillion to the total, while pandemic related spending by Presidents Trump and Biden added to the debt. What can be done about it? A combination of tax hikes and spending cuts would be necessary to curb the deficit, but that seems unlikely. It is estimated that under current policy, the U.S. has just 20 years to address the mountain of debt before the federal debt reaches an unsustainable level. We need to hear a lot more from our candidates about the mounting debt, and how they would reduce it.
Greg Symons
May 24, 2024 at 6:03 am
Tax hikes are not the answer. Increased taxes stifle growth. If you look at past tax cuts, revenue increased after they were put in place. It’s not that the government doesn’t have enough revenue. it just spends too much. It’s going to be painful, but cuts in spending have to be made to revenue levels. It’s funny that this station airs Dave Ramsey so much and those that work there can’t see how his program works.
Kevin
May 24, 2024 at 7:45 am
I will repeat the already provided answer, and what this country has historically seen. Raising taxes is NOT the answer! The only way to save money, and to pay down debt is to NOT spend money.
A proven way to increase tax receipts, or raise income, is to lower taxes thereby leaving the tax payer with more of the money they have earned! They then take that money and spend it on goods and services, which includes taxes. Business would call this an inventory turn, you want more of that, inventory turns.
The citizenry would then have more money to start new businesses and invest in equipment that produces more goods and services, there-by creating more jobs.
The only reason you would want to raise taxes is to choke off production, and provide your whiz-bang politicians with a pool of money, that they then provide to their cronies, often time mistaken as capitalists, but they are political cronies that are thriving on political graft, greed and favors!
My gosh, please read something other than the NPR and democrat party line of bullshite and propaganda!
nick
May 24, 2024 at 9:42 am
Biden is the biggest culprit and you will not even admit it. Lying Joe has been trying ever since he got into office to give away tax payer money and the courts have blocked him. His tax breaks for electric cars is staggering even though only the rich can truly afford them.
He has buckled to the left and they have no idea how an economy runs and do not care.
While we and the rest are obsessed with climate change, Russia, China and most of the world is not in the least. Russia is selling oil to anyone and everyone while China is building coal plants as fast as possible. India is another big time polluter while our emissions have fallen over the years due to technology.
Biden has no real plan for anything.
We are headed for a disaster and neither clown running for office will do anything about it. Neither will most in the senate
The media is a national joke outside of the Wall Street Journal who will go after Republicans. Another writer mentioned NPR. They are to the Democratic party what Pravda was to the communist party- a complete and utter shill.
walden
May 24, 2024 at 1:26 pm
What does WIZM think MTG and others have been raising cain about. Debt reduction and closure of the boarder and they have been severely criticized and received inadequate support, and that includes (especially) from buffoons in the media.
Kevin
May 24, 2024 at 4:53 pm
Nailed it!!!!