Soon half of every dollar paid in federal income tax will be paying interest on the national debt (CNBC, Peter Tanous, 1/27/22). According to the US Treasury, $7.4 trillion is owed to China, Japan, oil exporting countries and Caribbean banking centers (Statista, Erin Duffin,8/2/22). The Social Security Trust Fund accounts for much of the rest of the $30.6 trillion debt (Statista).
When Obama began the debt was at $10.6 trillion and he left with an astounding $19.9 trillion (CNBC, J Cox, 2/2/19). The debt rose $7.9 trillion under Trump (WashPo, A Sloan, 1/14/21) mostly due to costs related to COVID and the pandemic stimulus. The NYTimes (3/11/22) reported over $100 billion of that money hasn’t ever been distributed by the Treasury. Why is that if we were told it was so imperative two years ago?
When Joe took office, the debt was $27.8 trillion rising $2.8 trillion to $30.6 trillion today. Who can say what his college debt “forgiveness” scheme will add? Didn’t Madame Speaker say in 2021 Biden doesn’t have the legal authority to forgive debt? Pelosi said Trump “broke the law” over a phone call (BBC News, 9/24/19) and the Democrats impeached him.
Don’t expect Pelosi to bring articles of impeachment on Joe or any of them to care who is saddled with paying for it this folly. That’s because there is no debt cancellation, it’s a debt transfer to generations of those who didn’t incur it and Pelosi said it’s illegal.
Al Gore announced in 2000 his top goal for being elected president was a steady reduction of the national debt (NYTimes, 4/26/00) which was only $5.6 trillion then. Joe’s debt transfer debacle won’t fulfill Al’s dream nor will it lower inflation any more than his Inflation Reduction Act, but that’s the cost of voting Democrat.
Ralph Miller
* * *
Ralph Miller hit the nail on the head about Democrats. They have finally achieved their goal of converting 50.1 percent of the voters to parasites dependent on the government dole through welfare, food stamps, public housing and now student loans. Alexis de Tocqueville predicted it 150 years ago.
“The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.”
How Democrats can look their grandchildren in the face is beyond me.
Douglas Jones
* * *
You all were silent when those Republican Congress persons had their PPP loans forgiven. One to the tune of over $2 million. Even the family of that Republican "emerald" mouthpiece shouting the loudest received a nearly $200,000 loan that didn't have to be paid back. In fact, several Republican Congress persons got their federal loans forgiven (from $200,000 up to millions) and won't have to pay one red cent back.
But you two are griping about the national debt, still trying to blame President Obama for all Republican Bush and other Republican failures and missteps. Why? Because you figure their base is too dumb to check out the facts? Too clueless to know any better? That they'll all just fall in lockstep and march with you two in your marching band down main street making hideous noises?
Brenda Washington
* * *
Brenda,
Speaking of silence.....I noticed you forgot to mention anything about Hunter Biden in your diatribe. I believe the millions of dollars he's ill gotten will probably surpass the sum total of all those you mentioned by a substantial margin. Oops.
Phil Snider
* * *
I have several observations on the initial letter and responses.
1. I am sure to be criticized personally for my commentary in 2-8 below. In the past I have been called stupid, ignorant, uneducated, blind to facts, a Trump hater, etc., by readers. Who knows, but maybe a parasite, as I am retired. I hope they will avoid personal attacks, as I do. Instead, they should attempt to rebut my dollars, percentages, other statistics, and reasoning. Name calling is a trait of a person unable to offer rebuttal with facts.
2. I am exceptionally pleased that Brenda Washington pointed out the hypocrisy of Republicans complaining about student loan forgiveness, led by Rep. Greene of Georgia, and their silence on PPP loan forgiveness that benefits them. (From various sources including CBS News website: White House Calls Out Republicans Who Criticized Student Loan Forgiveness)
3. Their hypocrisy continued as Trump's following nearly always advocates his total innocence, or innocence until proven guilty, but habitually use Hunter Biden as a retort. They fail to consider that he too is innocent until proven guilty, yet always branding him as irrefutably guilty due to as yet unknown facts. By bringing up Hunter Biden, that retort is akin to a four-year-old caught with his hand in the cookie jar, yet hollering to his mother that an older sibling took cookies yesterday.
4. Whenever dollars, percentages and other statistics are bandied about by Republicans, there is rarely a source of the information. But I congratulate Ralph Miller for providing sources for his numbers.
5. Mr. Miller did not make clear the increase in the national debt during the Bush-Cheney Administration. His cited source states the deficit at the end of the Clinton-Gore Administration was $5.6 trillion. Mr. Miller continues by stating the national debt at the beginning of the Obama Administration was $10.6 trillion. I wonder why this increase in the national debt during the Bush-Cheney Administration of $5 trillion (plus the never to be known off/book cost of the Iraq war) was not made clear?
6. Mr. Miller cites the pandemic as a reason for debt increase during the Trump Administration. But he omits the reasons for debt increase during the Obama-Biden Administration. That increase in debt was because of the Great Recession of the Bush-Cheney Administration. Republican laws repealing the depression era Glass-Stegal Act, and enactment of the Republican Commodity Futures Modernization Act "came home to roost" during the Bush-Cheney Administration as The Great Recession and were left for the Obama-Biden Administration to address.
7. Another debt amount that Mr. Miller failed to make clear was the debt increase during the Trump Administration. Mr. Miller's sources cite the debt at the end of the Obama Administration of $19.9 trillion. His sources further cite the deficit as $27.8 trillion at the beginning of the Biden Administration. I wonder why this increase in the national debt of $7.9 trillion during the Trump Administration was not clear? Mr. Miller provided some justification for Trump debt increase, but fails to reference the Trump tax cuts for the wealthy. Was Trump's deficit partially caused by these failed Trump tax cuts?
8. Douglas Jones commented that Democrats "have finally achieved their goal of converting 50.1 percent of the voters to parasites dependent on the government dole through welfare, food stamps, public housing and now student loans." No source is cited. I won't challenge that percentage, but will point out Mr. Jones as he addressed these Americans quite abhorrently and vilely as parasites. He blames "welfare, food stamps, public housing and now student loans" as the sole causes of dependency. Yes, millions of Americans receive benefits, but are not parasites. Mr. Jones, are your relatives receiving Social Security parasites? Are the elderly who are ill, and get medical treatment through Medicare/Medicaid, parasites? Are those receiving Social Security disability benefits parasites? The states of Kentucky, Louisiana, Mississippi and South Carolina receive an exceptionally high number of dollars per resident than the remaining states. They are Republican states. Mr. Jones, are those people parasites?
Joe Warren