Once again, fiscal conservatives are dragging their heels about the federal government’s spending spree, but they will be demonized as uncaring and irresponsible misers. Actually, they are heroes. Why?
Fiscal liberals claim that our federal debt is not so bad and that it is truly healthy. For example, they allege that post-World War II America’s debt was really worse, but that the 1950s turned out swell.
This wishful thinking is dead wrong. Our out-of-control federal debt is already at $19.5 trillion and escalating.
In addition, unlike the late 1940s, today we have a shrinking number of young, energetic taxpayers, and a skyrocketing number of retirees. Furthermore, we have far larger (and poorly funded) entitlement programs for our growing population of senior citizens.
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Finally, America is no longer the world’s only economic powerhouse. Google “Federal Debt” for more facts. Indeed, I wish the TNT would print a daily “Federal Debt Status.”