We must be kidding ourselves again. With a $20.4 trillion U.S. federal government debt, we once again want to raise the national deficit ceiling to pay our bills. The federal government has once again spent more than it collected in revenue. We must be living in La La Land.
We should be asking ourselves, why we are continuing to pass the debt on to the next generation. Instead we want tax rate cuts with no spending cuts, which will certainly increase the yearly deficit.