When is the right time to face our nation’s debt?
The Wednesday, Jan. 23 Alpena News contained an Associated Press (AP) article, ‘Biden Meets With Democratic Leaders As Debt Showdown Looms’ on page 6A.
The article went on to warn about the ‘extreme Republican economic plans’ and presented all kinds of horror results if the debt ceiling is not lifted. So, I ask, when is the right time to face our nation’s debt? It is currently $31 trillion. Do we wait until it is $40T? $50T? $60T? The longer we wait the more pain we will feel. That is unless our intention is to go merrily along and let our children and grandchildren deal with the fall out that eventually will come.
Look at it this way. As parents, assume our children are responsible for our debts when we pass. Do we go on a spending spree in our old age, accumulate tremendous debt, and say to ourselves, “I’m not going to worry about it, it’ll be the kids’ problem when we’re gone”. Not many parents would do such a thing.
Well, that is exactly what we and our politicians are planning and doing right now. So far that has been a bi-partisan effort, both Democrats and Republicans playing along, as they rarely do on anything else.
It’s time to stop killing the future of our children and grandchildren and for the US to take the pain so they don’t have to.