LETTER: Our Growing National Debt

Anyone can go on-line to usdebtclock.org and see the following:

• National debt: $28.85 trillion

• Annual spending: $6.87 trillion

• Annual revenue: $3.87 trillion

You will see that the debt is increasing by over $2.5 million per minute. That’s $3.6 billion per day. That’s $1.3 trillion per year.

That amounts to a debt per taxpayer of $228,999 or $86,694 per citizen We are over 7 times more in debt than our annual revenue.

To put that into terms we citizens might relate to it’s as if a family that had $150,000 of debt (for example, mortgage, car, credit cards, etc) and instead of working to reduce their debt, they went out and racked up $1 million in additional debt thinking it would fix the problem.

We foolishly entrust our “politicians” to manage our funds. They never do a budget because they do not want to do anything to balance it.

We hear of billions of dollars that they waste on stupid projects. But, they never want to cut expenses no matter how wasteful. The only way they would ever match their annual expenditures to their revenue is by drastically raising taxes.

In order to balance the current annual expenditures they would have to double EVERYONE’S taxes. Just raising taxes on people with incomes over $400,000 would not be enough to pay for Biden’s $3.5 trillion bill (which would do nothing to the $3 trillion deficit we are experiencing right now).

It’s like being surrounded by alligators and forgetting your goal was to drain the swamp. Our problem, “the politicians are the swamp!”

James Wiggins
Mesquite