So this came across my news feed this morning. When the tax cut was passed, the promise was "so much growth that federal receipts would actually climb and the cut would pay for itself." (I'm paraphrasing, of course) Instead what we have is a soaring deficit - at a time of comparative fiscal health - and it is due to a combination of reduced receipts and increased spending. I was particularly interested in the table just below the "Tax Cuts and Spending" table. The picture is not a good one.
We hear so much about "taxing the rich is just stealing," but we apparently have no problem with stealing from our children and grandchildren. After all - that is what the national debt represents: money we have taken from the future to pay the costs of the present. When we do that and keep the debt to what we can pay in our lifetimes - no problem. When we continue to spend to a degree that the debt will have to be paid by the next two or three generations - we are stealing from those future generations. There is simply no other way to see it.
We need a balanced budget law or amendment - and we need it badly. Political leadership needs to be forced to live within its means - across the board.
We hear so much about "taxing the rich is just stealing," but we apparently have no problem with stealing from our children and grandchildren. After all - that is what the national debt represents: money we have taken from the future to pay the costs of the present. When we do that and keep the debt to what we can pay in our lifetimes - no problem. When we continue to spend to a degree that the debt will have to be paid by the next two or three generations - we are stealing from those future generations. There is simply no other way to see it.
We need a balanced budget law or amendment - and we need it badly. Political leadership needs to be forced to live within its means - across the board.
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