Rodriguez for Congress campaign
National Debt

Send a link to a friend  Share

[October 17, 2016]  National Debt: Point of Reckoning is Here According to Rodriguez - While it is true that the public debt of the U.S. is excessive, an analysis of the current debt as a percentage of GDP is perhaps more instructive.

Such an analysis reveals that there have been times in the nation’s past when the debt-to-GDP ratio was high, such as at the end of World War II, but the nation summoned the means to address the problem and the engine of economic growth generated unrivaled prosperity for an entire generation. If we can summon the will to address the debt crisis today and find the courage to take action, we too can witness the kind of economic prosperity that can produce jobs and help the nation reduce the onerous burden of debt.

Washington, D.C., has been preoccupied with the blame game of determining what group bears responsibility for exploding the national debt, but such finger pointing does nothing to alleviate the problem by working toward solutions. This may be high political gamesmanship, but it is irresponsible policy; the point of reckoning has arrived. As responsible citizens we must take ownership that we are responsible for this debt and we must demand that elected officials develop a rational approach to reducing the national debt. This approach must include both spending cuts as well as revenue enhancements; using only one of these mechanisms while ignoring the other will not produce the results that we seek.



This work must begin with the U.S. Congress operating on the premise that a balanced budget is a necessary starting point for addressing the fiscal woes that we face as a nation. Responsible leadership must always demand that we spend within our means. Independent analysis from the CBO can predict with a high degree of accuracy what revenues the nation can anticipate for the coming year, so the work of curbing spending must be done to fit the constraints of the nation’s income. This process may not be pleasant as hard choices need to be made, but it is absolutely necessary.

[to top of second column]

National spending priorities must be strategic so that economic growth and prosperity might result from wise investments in infrastructure, technology, and education. Creatively anticipating and planning for future needs almost a generation before circumstances arrive is vital to ensuring that our economy maintains a stable growth pattern. Doing so effectively allows us to fuel the engine of economic development that might well continue for decades into the future. The danger, if we proceed with a business as usual mentality, is that spending on congressional pet projects rather than financing strategic investments would not provide us with the foundation that is necessary for ever-expanding economic growth.

We have reached the point of reckoning with respect to the debt crisis; the status quo is untenable, and the next Congress must make the hard choices that are necessary to restore fiscal responsibility to Washington, D.C. The bitter pill for both political parties is that the solution to this matter will not be found within partisan talking points, but rather it will be negotiated through reasoned compromises that may take some a bit outside of their comfort zones, but are nonetheless necessary for our national wellbeing.

Past related articles

[Text from file received]

< Recent articles

Back to top