To those who think it is fiscally responsible to continue deficit spending, I hope you are around to explain to your children and grandchildren why there is nothing left for them from their irresponsible government (“Too bad, kids: We ate it all,” op-ed column, Oct. 18).
Irresponsible politicians voted to push the debt onto their descendants. This is the easy approach, and it gets them re-elected.
Apparently no one learned anything from the recent recession, which showed what happens when housing loans are approved for borrowers who have marginal means to pay back their loans. The federal government is sliding into that group.
People are misguided in thinking that the United States is the richest nation in the world. That may be so only on paper. When the economy eventually deteriorates, the Great Depression will seem like a short weekend in Las Vegas.
Lawmakers must start new talks
I am underwhelmed by the economically stabilizing action of our elected officials in Congress that will get us a limited number of days of long-range economic foresight (“Big deal,” guest editorial, Oct. 18).
Campaign fund-raising has a longer lead time than we have until our next economic showdown. With any luck, those in Washington will bring the topic of the federal budget up again before mid-January, and maybe even before they take their paid holiday break in December.
Day of reckoning to dawn for U.S.
Both political parties are at fault in the financial fiasco in Washington. The only way America’s financial problems will be solved is if both parties work together.
Spending cuts need to be looked at first. If the parties were more concerned with the debt than with scoring political points, these cuts would not be hard to find. Only after making cuts should raising taxes be considered.
Republicans during the George W. Bush administration overspent on wars, the No Child Left Behind program, and a prescription drug benefit for senior citizens. Democrats have brought into law the Affordable Care Act, numerous bailouts, and a huge stimulus program that did not create the number of jobs it promised.
The day of reckoning for the United States is coming. If we do not want to end up like Greece, hard choices need to be made and people are going to be disappointed. We cannot keep overspending as we are now.
Don’t blame GOP; Obama adds debt
The media portray House Republicans as obstructionists when they do not want to increase the debt limit. When President Obama took office, the national debt was about $10.6 trillion, and now it is more than $17 trillion.
The only solution is to cut spending, not to borrow or print more money.