LETTER: Time to tackle our nation’s spending problem
April 24, 2023 - 4:41 pm
In his Saturday letter “Due date,” Guy Heston seems to be under the impression that the U.S debt is like buying clothing in some store. This, however, is just another example of having your head in the sand when it comes to our economy and how it is run.
First and foremost, you can spend only within a budget, which is Economics 101. If you don’t adhere to your budget, you go broke. The U.S. government has, in effect, pretty much reached that state at this point. This is due to the over-the-top spending by both parties. Someone has to rein that in at some point. Why not now?
Here is something to consider for all of you who think we should just keep spending and not cut our deficit. The government receives its “paycheck” from the taxes it collects from American taxpayers. It pays its bills with that income. What happens when all of that income dries up?
AI is being used more and more in the workplace. It costs companies less because they pay no insurance or benefits and — yes — no income taxes on wages. If this continues without some kind of oversight in government spending, this whole country will be in a welfare line you won’t be able to get anything from because the Treasury will be broke.
Rein in this out-of-control spending by the Democrats now before it is to late. Better late than never.