11.26.2014  |   | Subscribe  | Contact us

All News & Blogs

E-mail Alerts

America is the largest debtor nation in the world

Visit the Photo Place
Date published: 7/24/2011

Richard Amrhine's writing actually appears to be the same political jockeying that he claims all the commotion is about ["Will the GOP let us crash and burn?" July 17].

Let me try a bipartisan approach. Problem: America is the largest debtor nation in the history of the world. Think about that for 60 seconds. That's hard for me to say as a citizen, a husband, a father, and retired U.S. Marine, but it's true.

"Our" nation's debt has grown under both Democratic and Republican leadership. This problem is not going to get easier to solve with time.

From treasurydirect.gov, the national debt in the year I was born was $317 billion. The year I graduated from high school, some 18 years later, it hit $1 trillion, and in 2009, the year my youngest son was born, $13.5 trillion.

Again, our national debt growth has indeed occurred under both Democratic and Republican leadership.

The character of a man and of our leaders is very important to me. If it were legal for a man to live beyond his means and enjoy all the pleasures and entitlements now at the cost of his children having to pay for his consumption, and he did this, I would consider that man one of little character.

I think this is a bipartisan statement. Thankfully, the law does not allow for a person in America to have this choice in the area of family or personal finances. And yet, this is exactly what we, the people of the U.S. government, are doing with out-of-control borrowing and spending.

Our Founding Fathers, the majority of them very wealthy individuals, wrote the Declaration of Independence in large part over taxes that were much lower than those we have today.

Taxes are too high in America. Under current tax law, whitehouse.gov in the fiscal 2012 budget lists 2010 tax revenues at $2.16 trillion. Isn't that enough? The answer is in fiscal responsibility, which ultimately calls for a smaller government, not a larger one.

David Ross