A Short Word: On Debts and Deficits

I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
– Thomas Jefferson

It has been a real challenge to get Americans to even acknowledge the national debt as a threat to our country’s future. Over the course of the last 20 years, the national debt increased from $5.656 trillion (1999) to $22.703 trillion (2019).

Before anyone gets uppity and starts blaming the anyone else for this debt problem, notice we’ve had every combination of political control of Congress and the White House in this time. Both parties have even had trifecta control of government.

If dealing with the national debt was at all a priority for them, both parties have had ample time to deal with it. Instead, they have continued to pile up more and more debt thanks to expensive foreign wars and unsustainable entitlements.

George W. Bush had the excuse of the War on Terror which has defined the 21st Century from September 11th, 2001 onward, but he also expanded Medicare. Bush’s worst deficits were $364 billion (2005 and 2007), $390 billion (2006), and $407 billion (2009).

Barack H. Obama faced the 2009 recession and but added the Affordable Care Act, massive infrastructure projects, and green energy bailouts to the mix. Obama’s best deficits were $474 billion (2016), $503 billion (2017), and $564 billion (2015).

And as for Donald Trump, with the Iraq War a distant memory, the financial turmoil of the 2009 Recession a decade in the past, and an economy that had been growing for years? His deficit was $779 billion (2018) and is projected to be $1 trillion this year.

What will it take for Americans to care about the debt? It no longer is a question whether or not the Republicans or Democrats care about the national debt. It’s clear that they don’t. The question is do you care about the national debt? Well, do you?

Because until you care about the national debt, it is incredibly unlikely that either political party is going to even pretend like they care about it. If you care about the national debt, it’s time to get serious about it. Share this with someone.

Share this article with someone and tell them why you care, and why they should care, too. That is the only way we’re going to get anything done.

Liberty is For The Win!

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