National Debt
Who is to blame for amassing such debt in times of
peace and relative prosperity, a debt that would have shamed our
nation's founders? ALL OF US! First there was the Republican
presidents of Ronald Reagan and George Bush who lacked simple
economic sense, calculated their budgets more for political gain
than for economic effect. While the Democrats controlling
Congress
who resisted the spending cuts and tax increases needed to balance
the budget. Last and most important the voters who supported the
candidates of both parties who kept telling us what we wanted to
hear instead of what we needed to hear.
Every year, the federal government spends more than it
collects in taxes. To make up the differences, the government
borrows hundreds of billions of dollars annually, competing in
the marketplace against private enterprise for the use of the
money saved by American citizens. The deficit amounts to $1,150
for every single American. That is the sum your......
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