Good luck to the next generation
The national debt at the end of fiscal year 2000 was $5.659 trillion. George W. Bush was elected, and eight years later the national debt was $10.011 trillion. Barack Obama was elected, and eight years later the national debt $19.560 trillion.
How will the American people ever pay that back? Treasury has borrowed more than $3 trillion from Social Security. (LBJ signed the law allowing the borrowing.)
Congress has passed laws to go to war, and expanded social welfare plans. And the executive branch has signed them into law. The real problem is the House and Senate. This spending has to be brought under control.
Good luck to the next generation, from a retired guy in Bluffton.
James Delmore
Bluffton
This story was originally published August 3, 2017 at 3:20 PM with the headline "Good luck to the next generation."