When will national debt become a crisis?
At 4:50 p.m. on June 12, 2024 the national debt was $34,816,578,000,000.
The debt per taxpayer was $266,952.
Act year, on June 6, the national debt was $31,831,161,000,000.
The debt per taxpayer was $248,041.
This represents an increase in the national debt of $2.985 trillion in just over one year.
And an increase in the cost per taxpayer of $18,911.
Does anyone think this rate of increase is not a problem?
Ask members of Congress this question.
A few years ago U.S. Senator Chris Coons of Delaware introduced legislation to repeal the national debt ceiling.
A press release he issued at the time said in part:
The time has come for Congress to eliminate the debt ceiling. Debt limit showdowns have become far too routine, and it's now considered almost normal to threaten default. That must change.
If this is the logic being allowed to advance, what hope is there for our future.
The federal debt has increased under both Democrat and Republican presidents.
I believe the writers of our Constitution saw the time when the federal government would usurp the power of the states and the people. The 10th Amendment, written years later, was an attempt to thwart these efforts, but that has not stopped the federal power grab.
The national debt is not seen by Congress or the Administration as being a threat to our way of life. It is. We have runaway spending and a lack of will on the behalf of leaders at the federal level to do anything meaningful about it. Want proof? Consider the fact that the Debt Ceiling has been raised 90 times in the past few decades.
Let this sink in: Congress last year increased the debt ceiling by $4 trillion under the misnomer, the ‘Fiscal Responsibility Act.’
Who do they think they are fooling with that title? Will they be bragging about this ‘responsible action’ during their next re-election campaign?
More than likely they will be trumpeting the federal dollars they sent into their districts, dollars made available by increasing the debt ceiling.
They will neglect to say that each taxpayer’s share of the national debt is more than a quarter of a million dollars.
What happens to middle class America when a crisis is declared?
What freedoms will we be asked to sacrifice to insure our security?
Make your vote count this November. Don’t fall for the same old meaningless rhetoric. Study the platforms of the candidates before you vote