I am opposed to any further increase in the national debt no matter the party in power.
At the end of President Obama’s last budget, according to figures, and calculations vary, the national debt stood at approximately $20.24 trillion. This budget extended about 10 months into President Trump’s term in office.
Now, a little after two years in control, the national deficit has increased to $23.2 trillion and continues to climb.
This increase is not in response to any national emergency or reason, such as the threat of collapsing banks that must be propped up to save our economy.
Why does it matter? Currently, interest rates are very low. I would call the rates abnormally low, so there is not much of a pinch on our treasury or taxes. This will change when it becomes necessary to cool an overheated economy by raising interest rates.
At that time, these higher rates will produce limited resources to address ongoing national needs.
In addition, with this debt, we are putting our children and their children in a straight jacket when it comes to addressing the needs of their day.
I fear that a day of reckoning is coming. We need to avoid that day by stopping this increase in the debt and by adopting as a national goal with the idea of paying it down.
National debt is sugar water for our economy.
It is not nourishing or sustainable.
Bob Musselwhite is a Democratic candidate running for the U.S. House of Representatives for District 8.