Deal with deficit before taking on new spending

 
Updated 9/22/2021 9:15 AM

I don't know whether to laugh or cry when I see quotes from the politicians in Washington about how the trillions in new projects will be "revenue neutral" -- typically by "closing loopholes" or "taxing the rich." Even if these spurious claims panned out, they do nothing to eliminate the existing trillion-dollar annual deficits.

I hope our representatives do better with their personal finances than they do with our country's. They remind me of a debt-ridden family who've maxed out their credit cards but still want that shiny new car. So they plan on getting a part-time second job to finance the seven-year auto loan. Even if their extra earnings are sufficient to pay off the car, it does nothing to reduce their overall debt.

 

How about dealing with the current $27 trillion national debt and $1 trillion annual deficits before taking on more government funded projects?

Larry Mayerhofer

Geneva

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