EDITORIAL: How can this possibly last?
And that's after the boss pilfered your retirement funds and used them on day-to-day operations.
Imagine further that every so often, the executive staff of your company has to meet just to agree to borrow more and find a way to keep the lights on.
We hope that doesn't describe your company -- because it wouldn't last very long.
But it does describe your country.
Except that the debt, and the deficit spending, is in the trillions.
Republican members of
But as arduous and convoluted as the tax cuts were to enact, it was still playing Santa Claus. There isn't a chapter on letting Americans keep more of the money they earn in the book Profiles in Courage (though it was written by
Now
We're frankly surprised by how little interest our first businessman-president has shown in cutting back the size and reach and cost of government.
We also differ with the president when he sees no need to cut mandatory spending, such as
While the tax cuts should spur growth in the economy and in federal revenues, experts say the cuts will add a trillion or more in debt over the next decade. Whether true or not, the experts we've consulted have told us flatly that there is no way America can grow its way out of the crater of debt we've dug for our children.
We simply must rein in our spending.
Which neither party seems willing to do.
House Minority Leader
One of the most stalwart deficit hawks is Sen.
In a kind of Mr.
Short answer: Eventually, they'll agree to borrow more and raise the debt ceiling further.
Paul reminded his colleagues that they borrow about a million dollars a minute to finance the federal government -- and that our
"Ultimately, there will be a day of reckoning," Paul told them. "You cannot continue to borrow so much money. Ultimately it bankrupts the nation, or the currency becomes worthless -- or you get to a point where the interest on the debt actually becomes the No. 1 spending item"
That point is expected in about a decade, he said. All because
All those pet programs on both sides? "You're going to have none of that if you keep spending money at this rate," Paul told his fellow senators. "We're going to ruin the country with debt."
He's absolutely right.
Yet, it remains that a careerist
Question: How can this possibly last?
Answer: It can't. The only question is how and when it all ends -- and how much damage our current and recent politicians will have done to our country.
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