April 7, 2021
One of my earliest articles on this site was on the danger of our rapidly skyrocketing national debt. What was once perceived as, at best, a necessary evil that should be limited to whatever extent possible has, since the Vietnam War, become and immense burden of truly unimaginable proportions. How gargantuan? Well, the national debt is now $85,210 per person.
Here’s what Rep. Mo Brooks had to say, putting that $85,210 per person number in perspective:
“I want the American citizenry to ask themselves, can you write a $90,000 check right now? Okay, can you do it for your family of four? That’s $360,000 Oh, wait a second. If you happen to be doing well enough to actually earn enough money to pay income taxes, then you’ve got to pay for all those who can’t. So double it –– that $720,000 is the average debt burden of each family of four in the United States of America.
On a similar note, according to the Peter G. Peterson Foundation:
“When you’ve got $80-some-thousand dollars per capita in federal debt, which is about 50% more than the median income in the country, there’s no way we can tax our way out of it. And there’s no way we can cut our way out of it. It’s going to have to be a combination, and that’s not a political statement,” Phillips said.