There seems to be no end to the contentious issues that are debated day in and day out in this country. Topics regarding race, gender, income inequality, government overreach, foreign policy, immigration, etc. However, the 800-pound gorilla in the room is the profligate spending of the U.S. government and the financial Armageddon the country faces if this spending continues. The Congressional Budget Office has issued warnings about federal spending and debt accumulation for some time. Just a few short years ago, the CBO projected a potential financial crisis within 25 years if the unsustainable spending was not addressed. A few weeks ago, the CBO reiterated its concerns about an impending financial crisis if spending was not addressed, but the estimated time frame has been reduced from 25 to 15 years. Nearly everyone agrees that something has to be done about spending and debt accumulation, but our representatives (both Republican and Democrat) in Congress have steadfastly refused to do anything. It seems that both parties believe the United States is immune from the laws of economics and that we can continue to spend more than the government takes in and borrow the rest forever. International lenders will eventually tire of supporting America and its out-of-control spending.
When the day of reckoning arrives, there will be unprecedented financial hardship in this country. It’s time for each of us to start making such a fuss that the Washington elites will be forced to act. If we don’t, then we have only ourselves to blame when everything comes crashing down.
Ron Gilley
Hesperus
