Amazing, Froma Harrop finally got it right. In the Jan. 10 edition of the Herald she stated “raising the country’s debt limit was a routine vote.” If it is a routine vote, why have it in the first place? The debt ceiling is imposed to limit the amount of debt the country can absorb.
The interest this country pays on its debt is the fourth highest dollar amount in the country’s “budget.” Raising this amount “routinely” is unsustainable and robs dollars from more important budget items. The Obama administration cannot help itself as it spends this country more and more quickly toward bankruptcy.
In more recent years, the Republicans did the same thing under the George W. Bush administration. Conducting two wars while cutting tax rates certainly accelerated the increase in debt. Currently, Obama and Harry Reid have not passed a “budget” in four years Just pass continuing resolutions. What a farce. Are we not required to have an annual budget?
Obama is correct in that we must pay the bills we have already incurred. But this must be done within the revenue received, not with additional borrowed money, which will raise the debt ceiling and create additional interest payments.
Phillip E. Ritchey
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