Tag: revenue

The Problem No One in DC Wants to Talk About

 

While the Beltway class hyperventilates over the latest political gaffe and jockeys for position in the 2018 midterms, there’s one subject they studiously avoid: our nearly $20 trillion debt. I wrote about it for USA Today, but my chart above shows the facts better than any op-ed can.

Because most graphs look like this, I created my own user-friendly debt chart focused on three big numbers: deficit, revenue, and debt.

Athens on the Potomac

 

U.S. Debt ChartFinancial experts in New York, London, and Brussels have tut-tutted Greece’s economic travails as Athens considers its future with the European Union. Why did they borrow so much money? How can they ever pay it back? Do they think that much debt is sustainable?

Instead of pointing fingers at the innumerates running Athens, they should consider our own situation. Jason Russell of the Washington Examiner shows how America’s debt projections look suspiciously like Greece’s recent history.

With all the chaos unravelling in Greece, Congress would be wise to do what it takes to avoid reaching Greek debt levels. But it’s not a matter of sticking to the status quo and avoiding bad decisions that would put the budget on a Greek-like path, because the budget is on that path already.

Member Post

 

First let me say that I am a staunch Conservative. My first vote cast was for Barry Goldwater and I have voted for conservative candidates ever since. My comments here may be construed as taking the liberal line but considering the options I think not. On our southern border we have total chaos and I […]

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