Letter: Debt is not the demon politicians claim

When you buy anything on credit, you incur a debt and at the same time you invest in your standard of living. You may enjoy living in a home or driving an auto that you couldn't enjoy without this debt. Obviously, debt and investment in your standard of living is the same thing. Mathematically, Debt = Investment.

The same is true for the federal government. When it incurs a deficit, it invests it in the standard of living of citizens. Yes, it's true that we all benefit from the $31 trillion debt, which is an investment in our standard of living. It is not the demon that politicians would want you to believe as they pander for your vote. It is the reason that you enjoy the standard of living that you have.

Imagine for a moment what the country would look like if the federal government would have balanced the budget every year from 1837 till today. We would not have had any money to finance the Civil War, WWI, WW II, Korea, Vietnam, Iraq, Afghanistan, Social Security, Medicare, Medicaid, interstate highways, bridges, ports, schools, the industrial might we enjoy or the largest military in the world. And the banking industry wouldn't have the money to finance your mortgage, car loan or credit card. Likely you wouldn't have a job and certainly you would not be living in the home you have.

I'm sorry to report to you that the "balance the budget" people are dead wrong when it comes to the federal government. They live in a fantasy world and want you to believe that you/we could have the same standard of living without the $31 trillion investment. It's a great story but a giant delusion as well.

Of course, in a letter to the editor, it's not possible to address everything, but let's stop demonizing the debt/investment. While it's possible to overspend and get inflation, it's also possible to underspend. I raise a glass to those who found the wisdom to invest $31 trillion in us.

John S Strauss

Campton Hills