As we let the national debt rise, we are killing ourselves. The rise permits more spending by Congress, but worse also, increased inflation costs for living (food, clothes, housing expenses of utilities, real estate and rent). What to do?
The national debt was $30.93 trillion in 2022. That is 139% of, or compared to, the gross domestic product (GDP). The GDP reveals the country’s ability to pay down its debt.
To eliminate the national debt, we need to cut spending. Per a March 6 New York Times article: Social Security would be cut by 2%; Medicare by 8%; Medicaid and “Obamacare” by 4%; other mandatory spending by 5%; defense spending by 8%; and all other spending (veterans’ health, transportation, education, law enforcement, research and foreign affairs ) by 7%.
Can we, the American people, its taxpayers, retirees and others do this? Or will we suffer a future of higher expenses for food and living?
Harry Huyler
Kailua
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