Deficit and debt -- the elephant and donkey in the room

Thursday, September 24, 2020
 | 
Chris Woodward (OneNewsNow.com)

Burning moneyThe debt problem is one that seems to have been forgotten, but an organization dedicated to educating the public about the effects of excessive taxation and spending by all levels of government says it is something that still impacts every private citizen and politician, regardless of how the election turns out this November.

David Williams, president of the Taxpayers Protection Alliance (TPA), says the country has racked up a $3 trillion deficit. 

"This is just the deficit for this year, yet Democrats and Republicans have not said a word about this," he points out. "This is by far the largest deficit this country has run, and no politicians, no one in Washington is talking about this issue."

As for the $27 trillion national debt? Crickets.

"This problem has been building for many, years and many decades, and therein lies the problem," Williams continues. "Members of Congress were not addressing this before, and if they would have had a handle on this before, if they would have addressed this before, yeah, this wouldn't be so bad."

Williams acknowledges this year's "extenuating circumstances," but he says there is no plan moving forward to cut spending.

"You have a Congress that is getting ready to pass a temporary spending bill that we have no idea what's going to be in it, how much money is going to be spent, and again we don't hear anything about this from Democrats or even Republicans, the party that is supposed to be for smaller government and fiscal responsibility," the TPA spokesman observes.

Earlier this week, Fox News reported that Chris Wallace has settled on topics for the first presidential debate. On that note, Williams would like to see questions about the deficit and debt, and as early in the debates as possible – not as a buried question.

"We need specific answers as to how you fix the problem and not just to be outraged that we have a $3 trillion deficit, a $27 trillion debt," the TPA president submits. "But what are the steps to get us out of this, and how [does] each candidate propose to reduce the deficit and debt?"

Williams

If spending is not gotten under control, Williams warns it will leave the nation unprepared for the next pandemic or war.

"This is because politicians and bureaucrats have refused to look at the fiscal implications," he explains. "Interest on the debt alone is going to reach $500 billion."

As for simply requiring wealthy Americans to pay more in taxes, Williams says that thought is "tempting," but it will not make the problem disappear; Washington, DC must cut spending.

"While we're talking about a Supreme Court justice, while we're talking about the election, we need to talk about the elephant in the room and the donkey in the room, and that is the deficit and the debt," Williams advises. "When people go into the polling place, they need to consider that whether it's Republican or Democrat, whether they vote a new person in or vote an old person out … to look at the deficit and the debt and the effect it's going to have on our children and grandchildren in the not-too-distant future."

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