Painful as it was, I just finished watching the most recent Democratic presidential debate. Interestingly, there was not a single mention of our national debt by the moderators or any of the candidates. They talked about every other subject imaginable but not the one that is the greatest threat to our national security.

In truth and very disappointingly, it’s likely that this would have also been the case if this had been a Republican presidential debate. Both parties are ignoring the national debt and resolve every budget disagreement by spending even more. The federal government currently borrows 23 percent of every dollar it spends. How long could any of us do that?

Before Democrats blame this all on the 2017 tax cuts, let me remind them that since the new tax law went into effect, the government’s revenue has increased every year. The problem is that spending increased even more. Let me also remind them that the current budget deficit of more than $1 trillion was equaled only four times in our nation’s history; all during Barack Obama’s two terms.

Sadly, I predict that politicians of both parties will address this problem only when is too late.

John Rowerdink, Pinehurst

Publisher’s Note: This is a letter to the editor, submitted by a reader, and reflects the opinion of the author. The Pilot welcomes letters from readers on its Opinion page, which serves as a public forum. The Pilot is not in the business of suppressing public opinion. We are a forum for community debate, and publish almost every letter we receive. For information on how to make a submission, visit this page: https://www.thepilot.com/site/forms/online_services/letter/

(8) comments

Peyton Cook

Federal tax revenues due to the tax cuts have increased each year of the Trump administration:

2017 - 3,32 trillion

2018 - 3,33 trillion

2019 - 3,44 trillion

2020 (estimated) - 3,64 trillion

We do not have a revenue problem. We have a spending problem. In his second term Trump should downsize the Executive Branch by eliminating and consolidating Cabinets, eliminating overlapping programs, and unnecessary bureaus and commissions. Finally, he can press for the Fair Tax which would end the IRS.

ken leary

In the last year or so the stock market has grown by thirty percent. Wages have been stagnant. Various explanations are offered regarding the stock market but the evidence is that the treasury/fed has been pumping money into the system. The repo market frenzy that has been going on since September is said to be the forth QE. We are living in a very fragile economic world where if the fed stops feeding low, or no interest money to the major banks the system is going to go bust. It is going to go bust anyway. From what I understand it is not the "national debt" that is the worry because the fed (whether you agree with MMT or not) can conjure up as much money as it desires. Private debt is the issue. The banks, hedge funds, pension managers, firms, etc., are all wheeling and dealing trying to make a buck off a buck. The next time all these jokers reach the end of the various ponzi schemes, when nobody wants to lend anybody any money, when (if ever again) the interest rates go up, we will have another 2008, or worse. I guess this is why we have a might makes right military and no high speed train up to Maine.

Tom Hollingsworth

Some of what you stated is correct such as little or no comments on current democrat prospects re federal deficit, but John you’re not truthful when it comes to whether federal revenues are up or down following tax cuts. Federal Corporate tax revenues specifically related to the tax cuts has declined 6%-8% in 2018 and is also down for FY2019.

This decline when coupled with other federal revenues and expenditures results in the Federal Deficit exceeding 1trillion for the first time in 2019 and only previously reached 3 times in recent history. Spending is one of the main culprits helping to create the deficit. Our expenses are greatly exceeding the budget for the current year.

John Rowerdink

Tom...You are wrong about federal tax revenues. You used the example of corporate tax revenue, which is a minor part of total government revenue. Total revenue was $3.32 trillion in 2017, $3.33 trillion in 2018 and $3.44 trillion in 2019. 2020 is expected to higher yet. The problem is spending, which has grown faster than revenue.

Barbara Misiaszek

In 2016 China's military budget was estimated to be about $135 Billion, Russia's $70 Billion. Ours, this year, almost $750 Billion.

John Misiaszek

Dan Roman

Facts stated without context! Obama inherited an economy in a death spiral from Bush II. Spending was necessary to to keep the economy from sliding into a depression. It worked. Trump gets to brag about the result.

Tom Hollingsworth

Dan you are obviously correct. I decided to not delve too far into the issue as it related to expenditures even though they were sizable and of necessity to raise us out of the recession debacle. John was having indigestion just trying to skirt the issue with only brief indictment of Democrats and hopefully no one would notice that there was no mention of Republicans involvement.

Peyton Cook

That’s because Obama emasculated the Armed Forces down to a Corporals Guard. If we do not fight the terrorists in the Middle East, they’ll attack us here. In fact, they may already be here but not in great numbers

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