How concerned should we be about the growing national debt? | Columns
Some notable people say our national debt is nothing to worry about. It’s not something I should be worried about, I guess. After all, I am 86 years old; I will probably be long gone by the time he sinks our crown ship. But what about our children and grandchildren? I have heard that we are passing all this debt on to them. Those who say that seem a little worried. Are they wrong or are they right? Hey, don’t look at me. I have no debts myself. I’m the pay-as-you-go type. Good thing too.
There is a site on the Internet called The National Debt Clock. It shows how much debt we have, the interest on that debt and how fast it is growing. If you want a shock to your system, take a look. You can also go back the years and see what our national debt was. The New Democrats have probably never looked at it. Of course, they are the ones who say that the debt is good for the country. They should be happy about the rate at which our debt is growing. It grows so fast that the last six digits are just unreadable blurs as they move fast.
The national debt has strangely been absent from the recent political conversation. It was a campaign problem. Obama used it as a weapon against Bush when he ran for president. On July 3, 2008, in Fargo, ND, he said, “The problem is, the way Bush has done it for the past eight years is to withdraw a Bank of China credit card on behalf of our children. , passing our $ 5 trillion national debt for the first 42 presidents … number 43 added $ 4 trillion by its lonely, so that now we have $ 9 trillion in debt that we’re going to have to pay off. .. $ 30,000 for every man, woman and child. It is irresponsible. It’s unpatriotic.
How well has Obama kept his implicit promise to reduce our national debt? In eight years as President of Bush, our national debt has increased by $ 4.899 billion. In Obama’s first three years and two months, it grew by $ 4.939 billion. During his full eight years as president, the total debt amounted to nearly $ 20 trillion.
So much for Obama who protects “our children” from the national debt. He turned out to be the most “irresponsible” and “unpatriotic” (his own words) president we have ever had. Until then, that is. The new man in the White House today seems determined to at least try to bankrupt us. I’ve heard he bought tons of grease for the printing presses in the treasury, or wherever our money is printed. It wouldn’t surprise me if it was in China.
He still has a long way to go to beat Roosevelt, however. He increased the debt by 1,048%. But that was only a $ 0.24 trillion increase. See how the numbers can lie? We must have entered the Reagan years before the word trillion entered our everyday parlance. Reagan increased the debt by $ 1.86 trillion. George W. Bush has done his part by increasing the debt. He added $ 5.65 trillion to the growing pile of responsibilities.
Then came Barack Obama, who had preached that the increase in the national debt was irresponsible and unpatriotic. It has increased the national debt by “only” 74%, but in dollars it has risen to $ 8.59 trillion in eight years. So far, it was the biggest dollar increase ever recorded by a president.
Our first billionaire president was Donald Trump. He is a man who knows how to use other people’s money to get rich. Unfortunately for Roosevelt (biggest percentage increase) and Obama (biggest increase in dollar), he was only able to get a 33% increase in debt, amounting to $ 6.7 trillion. Of course, he was only four years old to do so. Had he been re-elected, and with the COVID-19 pandemic to use, I’m sure he could have broken both records had he tried.
Now comes our new man’s attempt to break those records. He’s a rather calm old man with an easy demeanor, unless you’re talking about his family, of course. With his puppeteers Nancy Pelosi and Chuck Schumer pulling on his strings, and a new group of recruits from the more radical parts of the New Democratic Party, he’s off to a good start. With just a hundred days of work, a new world record for public spending and debt seems quite achievable. Especially when they are assisted by the worst pandemic in modern history,
Another throwback to the Obama era, Rahm Emanuel, had paraphrased Winston Churchill by saying, “You never let a serious crisis go to waste. And what I mean by that is an opportunity to do things that you think you couldn’t do before.
In other words, while the world is restless and not thinking rationally, toss a whole host of presidential decrees, laws, and government spending programs at those who normally wouldn’t have accepted them. To me, this is deceptive and dishonest, but not unexpected. This goes hand in hand with his campaign promises. Apparently voters weren’t listening.