Your Letters: Stand for fiscal responsibility
To the Editor:
I long for the good old days when at least one of our major political parties stood for fiscal responsibility.
While my fellow Republicans are congratulating themselves on the present state of our economy there are two points I would like to make: One, the current recovery was well underway during the last year of the Obama administration, and, two, the current boom is being financed by borrowed money.
During times of full employment the government should be collecting surplus revenue. Instead we are facing a trillion dollar deficit due to the ill advised tax cuts.
I recall hearing Hubert Humphrey, in his inane babblings during the 1960s, ridicule the notion of a balanced budget. Thankfully in those days the Republicans would have none of it.
At least at that time we could ease our concerns over the national debt by saying, "We owe it to ourselves." And that was true. The national debt was financed by Americans buying savings bonds. Now the debt is financed by foreign entities. It will not be a pretty sight when our creditors realize that we are no longer credit worthy. That's when the chickens will come home to roost.