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Reader Opinion: What happened the national debt?

I have written many times before about this countries problem with debt. In fact I have written about it so much that this will probably be the last time I am going to write about it. No one is serious about it anyway. It was always alarming to m...

I have written many times before about this countries problem with debt.

In fact I have written about it so much that this will probably be the last time I am going to write about it. No one is serious about it anyway. It was always alarming to me that we could be so cavalier about being trillions and trillions of dollars in debt but something has changed that says to me-we're now throwing all caution to the winds and letting the good times roll. To hell with what happens.

The thing that has changed is spending money we don't have, used to be more of a Democratic problem but it now seems like the Republicans don't care anymore either. Under the guidance of the Republicans we just gave the rich a trillion dollar tax break and now we are borrowing money to pay for it. It defies explanation.

I know, I know, we are going to have some trickle down bonanza of tax money coming in. I heard that before from two Republican administrations and the national debt doubled under both of them. In short-it didn't work then-and it won't work now.

Back to the borrowing. At some point, and I believe we are close, there will be no one with an ounce of financial brains, willing to lend this country any more money. In the private sector that is called bankruptcy. Fiscal ruin. The only recourse will be raising taxes substantially and cutting every bit of spending for domestic programs and improvements.

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Now you ask me. Who are you-to tell us this? My answer is I'm nobody. It's just common sense. But it's going to die with the country. Whoops. It already has.

Mike Holst

Crosslake

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