Your Opinion: Debt perpetuates interest payments
Sunday, February 16, 2014
Milton Garber in his letter published Feb. 11 states that Jim Dyke’s cartoon published Feb. 4 is wrong. I think any responsible person would agree that the goal for anyone and especially the government should be to reduce debt rather than accepting the fact that all we have to worry about is paying the interest forever.
Mr. Garber, can you, with a straight face really believe that the federal government could ever get to a point whereby the national debt interest will not continue to grow?
This was proven by the Democrat-controlled Senate not voting for and passing a budget for four years. The result of their irresponsibility is an Obama administration deficit totaling $4,360,000,000,000 for the last five years. This is almost four times the $1,680,000,000,000 deficit accumulated over seven years of the Bush administration. Now the debt limit is to be raised again! (http://www.breitbart.com/Big-Government/2014/02/11/the-boehner-rule-is-dead).
Garber infers everything would be okay if we just pay the interest on the debt. The national debt is now about $220 billion. The interest is about $2,800 per wage earner per year. By 2020 the cost of interest is forecast by some to be about $1 trillion or about $12,000 per wage earner per year. Wouldn’t it be prudent to work toward $0 debt and allowing our wage earners to keep their money to spend and help our economy instead of paying that to the China, Japan and others in interest?
Each time the Republican-controlled House of Representatives has tried to stop the perpetual overspending by refusing to increase the national debt they are demonized as heartless while Obama halts spending for popular public places just to force support for higher debt limits hence higher budget deficits continuing the spending cycle.
Jim Dyke is absolutely right from the perspective of lenders as well as the working American public that expect fiscal responsibility for stability and lower taxes for growth. I believe it’s a disservice to the American people for Garber to try to sell the liberal Democrat playbook rhetoric by discrediting Jim Dyke’s cartoon as wrong. Jim’s cartoon should be praised and endorsed as a goal for our government and everyone should support it by voting for candidates who support that goal!
In addition: This is written to apologize to Mr. Salcedo for calling his letter of Jan. 26 a rant. Upon looking up the definition of a rant (re: my letter published Feb. 12), I agree with Smith in his letter of Feb. 12 rightfully stating that Mr. Salcedo’s letter did not meet the definition of a rant.