National Debt

Are we in a death spiral? I was looking at the interest payment on our national debt, it is now approaching ONE trillion USD, to be more exact $879,300,000,000.00. There are two reasons why we are paying this much annually: 1) The National Debt is now $33,879,004,000,000.00 and 2) Interest rates are rising from the dramatic lows two years ago. The historic levels of debt and the corresponding interest payments are rapidly escalating due to excessive spending and the government policies increasing interest rates to control inflation. Congress and the administration have been reckless with the future of American citizens.

We have been poor stewards of the assets we have been entrusted to manage. Congress’ budget process is worthless. The threat of government shut-down is pure theater and has now been adapted into a long running serial program. Congress has been entrusted with the formalizing and overseeing of our annual budget. It has failed! The Administration is charged with spending money and overseeing that process. The Administration has the responsibility to create a proposed budget to run the government based on the laws Congress has created. The Administration has failed to restrain spending to sustainable levels. Why has Congress failed to oversee Administrative spending? Is that not their primary responsibility? (Art. 1; Sec. 7; Sec. 8; US Constitution). Members of Congress take an oath to uphold the Constitution. Here are two prime questions: 1) Do you read it? 2) Does your oath mean anything?

The US Treasury failed to restructure and refinance the national debt at the dramatically low levels two years ago and including the decade prior. This is a significant failure of both the Legislative and Administrative branches of government. An opportunity lost at the highest level of government is a loss for the American people. The impacts of failure to be responsible and missing opportunities will fall most heavily on all with moderate (and lower) incomes. What I hear from my neighbors is that anyone not making $100,000.00 per year is struggling.

This is not a House/Senate issue; it is not an Administration/Legislation issue; and it is not a Democrat/Republican issue. Quite candidly it is an issue of good versus evil, darkness versus light issue. It is pure evil to plunge more than 70% of the American people into the darkness of economic despair.

Love, hank