Letter: American debt

Friday, February 09, 2018
American debt

When our family budget is strong, we have always tried to pay off some of our debt. We have paid a little extra on a car loan or a little extra on our mortgage.

An article in the Monitor on Tuesday assures us that the U.S. economy is strong despite some recent stock market tumbles. If our economy is strong, then why doesn’t the U.S. pay down some of our $20 trillion debt instead of going deeper in debt? If we cannot afford to pay down some debt now, then when will we be able to pay down debt?

The recent “tax cut” looks like a sham to me. The U.S. took out a trillion dollar loan in my name and is returning a very small portion of that loan to me for a few years then leaving me, my children and my grandchildren with the responsibility to repay the trillion dollar loan with interest.

I would prefer to use our current strong economy to pay down some debt, to strengthen Social Security, Medicare and several other items similar to the way that most of us would manage our personal budgets.

We need to be as sensible and nonpartisan with our government budget as we are with our personal budgets.