To the Editor:
When did Americans decide it is OK to live comfortably at the expense of their children and future generations? Parents used to work multiple jobs and sacrifice for their children. Now Americans make future generations sacrifice for us.
Today’s national debt of $13.3 trillion saddles each new child with over $43,000 worth of our national debt and over $400,000 worth of promised, but un-funded future obligations. Even at today’s low interest rates, interest payments already are one of the biggest federal budget items. Projected budgets increase the debt by at least $1 trillion annually for the next ten years, increasing the tax burden on future generations and on ourselves. Some economists believe this much debt could be more disastrous than the current housing / credit crisis.
If these debts were incurred to save our country during a war, that would be one thing. The wars in Iraq and Afghanistan have cost $1-2 trillion, the rest of our $13.3 trillion debt was spent to make life easier for today’s Americans.
How did this debt accumulate? Did Americans decide to take advantage of their children and future generations? Or, did politicians take advantage of our trust and gullibility?
Most politicians only seem to care about getting re-elected. To do this they promise things for free. Democrats say the “rich” will pay, but they don’t make the rich pay enough to cover the spending. Republicans cut taxes, which stimulates the economy and increases tax revenue but not enough to cover the spending. Both parties accept deficit spending leaving painful debt obligations to people who don’t vote, children and future generations. This is immoral, it must stop!
Incumbents or former incumbents who support deficit spending, who tell you someone else will pay for your benefits, or who vote for tax cuts but not spending cuts should not be returned to office. Candidates who do not pledge to significantly cut the deficit annually to get to a balanced budget should not receive your support or your vote.
Whether you believe the answer is to increase taxes or cut spending or both, every American who cares about our children and future generations must demand balanced budgets.
Investigate each candidate and vote carefully this Fall, the future well being of you, your children, grandchildren, and our country are at stake.