LETTER: We’ll all have to bite the bullet to deal with the national debt
The Sunday commentary by Les Rubin on the nation being insolvent clearly stated our current fiscal mess. We are spending more than we collect under both Democrats and Republicans, creating a deficit every year. Thus, we have to borrow more and more, ballooning the deficit. The interest paid on that borrowing takes a large chunk of the national budget.
Mr. Rubin identifies three options, all of which he believes are horrible. However, he makes no comment about reducing the deficit year by year by first freezing the outlays, and then reducing them in future years. Also, we need to keep the current income tax structure in place and not give a $3 trillion gift to the wealthy, which would obviously add to the deficit.
Similarly we have a solvency issue with the Social Security Trust Fund. Many have identified solutions, but members of Congress have not acted for fear of hurting their re-election chances.
For both issues, we have to do the right thing: Bite the bullet and get us moving toward solvency.
