Will our debt destroy prosperity?


| lpenner@queenscourier.com |

Recent news that our national debt now exceeds $16 trillion is frightening. Don’t forget that local, town, city, county and state debt combined adds up to another $2 trillion! It is time for government to destroy its own credit cards.

Let’s return to limited government accompanied by a minimal amount of confiscatory taxation to support only essential services along with Pay as Go budgeting; means testing for all government assistance programs; no member item pork barrel spending; sunset provisions for agencies and programs who have completed their missions; balanced budgets; actual surpluses and down payments to reduce long term debt.

Democrats and Republicans have morphed into one Washington inside-the-Beltway party dedicated to staying in power regardless of the cost to taxpayers. Their philosophy is to increase spending above the rate of inflation. Liberals won’t say no to social welfare programs. Conservatives love any defense spending. Both support farmers and corporate welfare subsidies.

How ironic that after winning the Cold War against the Evil Empire of Communism, it may be mismanagement of our economy that results in a decline of our standard of living. It may also end our reign as the world’s super power as we become the world super debtor nation.