There is no cause for celebration by President Biden and Congress now that our national debt exceeds $32.1 trillion. This averages $95,875 per citizen or $249,951 per taxpayer. (Source: June 26, 2023 National Debt Clock).
There are thousands of employees who are familiar with the details of our federal budget. How difficult can it be to find billions in savings? This could assist in reducing our periodic raising of the debt ceiling.
Millions of Americans cut their household budgets to make ends meet. It is time for Washington to live within its available existing revenues without excessive borrowing, just like millions of ordinary citizens.
The president and Congress have forgotten the old saying – a penny saved is a penny earned. Americans should send both a penny to remind them that it is not a sin to save. Unless we change our ways, America is on the road to losing our status as the world’s No. 1 superpower to China. Just like mighty ancient Rome before the collapse, we are going down the path to become the world’s super debtor.
Larry Penner
Great Neck
Please refer to my article from last month regarding this subject. Successive tax cuts made the rising debt stack inevitable, and they do little for the economy. We need to redial the tax code closer to the template we had in the late 90s.
The juvenile barstool rants about spending, and conflating an entity with a reserve currency with a family budget don’t add any practical knowledge or insight.