Both parties blamed for financial mess

Spending a $1 a second, it would take about 32,000 years to spend $1 trillion.

The national debt is now $10.3 trillion, but yet the presidential candidates are promising tax cuts and new government programs.

Watching the presidential campaign is like a journey through Alice in Wonderland - it seems the candidates and the politicians in Washington have lost all touch with reality.

It is absolutely insane for the candidates to talk of tax cuts and new government programs, when the national debt of the country is on the rise. If the candidates were really honest, they would tell us that taxes might have to be increased and government programs and spending greatly slashed.

Of course, that is what they would say if they were leaders and not two politicians only interested in getting elected. Yes, I know that they would say that they first have to get elected and then they would do something about reducing the national debt; but unfortunately it never happens, and the national debt continues to grow. Since 2003 the budget deficit has added a half trillion dollars annually to the national debt.

It took over 200 years for the national debt to exceed $1 trillion; in the past 28 years the national debt has increased $9.3 trillion. Not too surprising when you consider that cutting taxes and increasing spending has been the economic policy of both parties since 1980.

With government taking a stake in financial institutions, I guess we will have to add a hyphen to describe our economic system. It will now be called a capitalistic-socialistic system.

Victor Darst

West Dundee