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The Debt Does Matter

The national debt of the United States has now crossed $22 trillion for the first time in American history. That is a number that few, if any, can really fathom. But we must consider it. This is a bipartisan problem. Presidents Bush, Obama, and Trump have all contributed to historic growth of the debt.

Some in Washington think it does not matter. But it does. And there is no plan on the horizon to do anything about it. Taxing the rich will just provide them an incentive to go elsewhere with their money. We need some real pro-growth strategies to solve this problem and we need reform of entitlements. “Waste, fraud, and abuse” is the favorite mantra in Washington for how to solve the problem, but there is not enough to turn the tide.

The only way forward is going to be serious spending cuts in Washington and, if Republicans do not soon figure out a path forward, the Democrats will start making the case for tax increases that will stifle our long term growth.

More so than climate change, the national debt is a national security issue. Before Congress proceeds to a green new deal that spends even more, we need to tackle this problem.

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