Republican Party candidate to US Senate
In Case You Missed it, Here is the Debt Situation McMahon argued
against the Opposition About
(this website is not managed by Linda McMahon)
With various versions of the United States national “Debt Clock” floating across the internet, people have begun to realize just how dire our federal fiscal situation is. With national debt at over $18 trillion dollars, each person born into this country finds themselves responsible for nearly $59,000 worth of it. Headlines from several years ago cheer on government successes at paying off $35 Billion of that debt, which was the first payment offered in more than half a decade. But when the debt increases by 2.6 billion dollars per day, that is a little more than two week’s worth!
Republicans and Democrats have flung accusations across America during the years following the Great Recession. Finally coming to a point where the economy was not so fragile and job creation was up, plans needed to be made to address the debt. Republicans seek big checks on what they see as unnecessary federal spending in order to hack away at the debt in large chunks. Democrats are adamant that attacking it so brazenly will be the the severe detriment of those in lower socioeconomic classes who rely on government support. Many left-wing candidates cite Britain’s experience in which the rationalization that “living frugally” would solve all of their problems did not ultimate heal national debts in the predicted way.
According to Josh Boak, with The Fiscal Times, the remedy is a stronger economy to fight down the debt. It seems however, that as wonderful a solution as this may be, the “donkey wrench” is being thrown in as Democrats seek to siphon more out of big business to fuel the federal spending, and thus preventing the economy from growing to the extent required to start fighting the debt wild fire.
The President, along with some of the main Democratic law-makers fight Republican bills for spending-slashing by offering a pacifistic, “let us just leave it where it is, and not grow it anymore, so we do not hurt the economy too much”. Even after that offering, no efforts are made at change, and the spending party continues.
While it is true that Wall Street depends upon the status of the sale of Treasury bonds and other forms of debt, that does not make it right to continue the short term solution of effectively selling our governmental power to temperamental foreign governments. Perhaps one day we disagree on a major policy point, what is to prevent them from cashing in their chips and draining our account?