I am learning a great deal about the two major political parties in our country. Much frustration by each party about what the other is doing or proposing. … Truth be told, neither appears to be concerned about the national debt. For years, the party in power was spending and saying nothing about the debt while the party out of power was using it as a reason for a change at the top…
Remember The Concord Coalition? It is a group of folks from all walks of life, all concerned about the future of the USA. … And, about the only source of concern related to the debt…
Recently, (past couple of months), our congressional leaders … Senate and House … approved a Tax and Spending Package … that was signed by the President. The Concord Coalition called it “An Irresponsible End to the Year”…
The US House and Senate agreed to the bill, HR 1865, that reduces revenues by more than $400 billion over the next 10 years even as it implements a $170 billion increase in the 2020 appropriation caps agreed to earlier last year.
The bill contained $540 billion for eight of the 12 annual appropriation bills needed to keep the government open beyond Thursday, December 20. A second appropriation bill will include funding for the remaining four bills.
And, no one seems to give a ‘flip’ about the long range concerns. … Both parties and the administration, all proud of themselves that they could all agree on something. As my mom would say … my, my, my.
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“A national debt, if it is not excessive, will be to us a national blessing.” Alexander Hamilton, letter to Robert Morris, April 30, 1781
“Blessed are the young for they shall inherit the national debt.” Herbert Hoover, Addresses Upon the American Road
“The consequences arising from the continual accumulation of public debts in other countries ought to admonish us to be careful to prevent their growth in our own.” John Adams, First address to Congress, November 23, 1797
“I am not worried about the deficit. it is big enough to take care of itself.” Ronald Reagan, joke at the Gridiron Club annual dinner, March 24, 1984.
robert g hester