National Debt and Tax Cuts
With the next debate looming on the horizon, I just had a thought about the economy that comes from a different perspective than any I have heard thus far.
The voting population just seems to be entirely disconnected from the fact that the burgeoning national debt has an impact on them.
Perhaps if it were expressed that Mr. Bush has taken out an interest-only home loan and equity credit line, it would register.
If they were to understand that at some time you really do have to pay principal on the loan, that you can’t run the deficits ever-increasingly, that it can’t be interest-only forever, then people would understand that the tax-cuts are not actually cuts, only rubber checks written by the government on an overdrawn account.
The balloon payment is coming due, and who is going to pay then?
The companion issue is mortgaging our country, through the sale of bonds to finance our debt, to other nations. The real danger of current policy is ceding control of our capital markets and national economy to our creditor nations.
Who do we want to be in control of our money and future? Japan? Europe? Russia? Singapore? France? Canada? China? Saudi Arabia? (Saudi Arabia? Conspiracy theorists take note here)
President Bush has not protected the United States’ economy for the future generations. Instead, he has pandered to the rich and special interests, and bought the votes of the common man with his tiny “tax-cut” checks. He has sold us out.
People should realize that these checks are really only a loan of their own money, that we are all only currently paying the interest on that loan, and, as we all know, the payback is always going to be at least double the loan amount.
The clock is ticking, and we don’t have much time to rein in the profligate deficit spending of this administration. Just say NO!
The National Debt and Tax Cuts by SharedThought, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License.