In a presidential campaign, it’s amazing that no one is talking about the national debt. Well, actually someone is: the Congressional Budget Office issued a report this summer and we should be shocked.
Here are the top 2 things the nonpartisan CBO concluded:
1) Deficits are growing because spending—primarily on Social Security, health care and interest on the debt—is growing faster than revenue.
2) The ratio of debt to Gross National Product has nearly doubled during the Obama administration to 75% today, and it is projected to grow to 141% in 2046.
But don’t worry, because the Democrats have a plan: spend more and tax the rich. And Donald Trump says when we go bankrupt he will renegotiate our debt.
Is anyone besides me worried about this? Are we numb to the rapidly escalating debt? Debt is not only a question of fiscal responsibility, it is a problem of national security.[soundcloud url=”https://api.soundcloud.com/tracks/281142243″ params=”color=ff5500&auto_play=false&hide_related=false&show_comments=true&show_user=true&show_reposts=false” width=”100%” height=”166″ iframe=”true” /]
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