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When we are near a crisis is not the time to talk about the debt, but here we are. Debt is not a bad thing; without it, few of us would own houses, cars, etc. But when we take on debt we have to have the means to pay it back. It is a simple equation: Make more than you spend and use that money left over to pay down the debt.
Neither political party has a good policy on the debt. The Democrats do not make it the priority it deserves to be and the Republicans are only concerned about it when they are out of office. It is true that the debt normally grows much faster when the Republicans are in power.
The last time the federal government took in more than it spent was during the Clinton administration. What a great opportunity for the next administration to keep that going and use the surplus to begin paying down the debt. But instead the next administration declared that the people ought not to be taxed more than the government needs to run and passed tax cuts, and the debt continued to rise. Exactly the opposite is needed.
There are two ways to do that: Spend less, or tax more. People just have to understand that we have to have less funding for the military, parks, Social Security, pick your program — or we have to tax somewhat more than all those programs cost.
I suggest that both parties make debt reduction an absolute part of the national budget, and that first part of the income of the government will go to reducing the debt before we budget for any of the other things we want. Smarter people than I can determine where the level of debt should be maintained for good financial management. Once that level is reached it should be easy for the government to continue a rational policy. I'm sorry, no, I'm dreaming.
Melvin Aanerud, Ham Lake