It seems that we have lost sight of the national debt in recent years. That is not because it isn’t there or isn’t growing. It definitely is there at over $28.3 trillion dollars and growing with the official budget deficit sitting at nearly $3.3 trillion for the year.
How did we lose track of something this important? The vast majority of our elected officials at the Federal level have come to view it as unimportant. They believe in modern monetary theory (MMT), or they simply realize that they will not be in the hot seat when the bill comes due.
At least, they don’t worry about it when their party is in power. The republican party will make performative protests against spending when the democrats are in power. However, let’s not forget that the Trump administration was the highest deficit spending presidential administration in history at $1.653 trillion per year average versus $.848 billion per year average for the Obama administration. President Trump’s record will be eclipsed by the Biden administration.
Let’s not forget though that debt has a role, but it is poisonous when not treated with respect. It allows us to do what is required in the short run. However, in doing that, it poisons our future. At some point, the debt must be repaid. Who pays? We do, our children do, our grandchildren do. Why aren’t we more concerned? Why aren’t we demanding better?
Join me… let’s demand better together.
Just my opinion. What do you think? Let me know in the comments.
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