I could not help but take notice of the cartoon appearing over the letters to the editor column in the Aug. 9 issue of the Gazette-Journal. The cartoon gave recognition to a pressing debt that threatens our economy and financial well-being as a country and people.
To give further credence to this pressing issue, the U.S. government is anticipating spending $415 billion this year just to service the debt, up $40 billion from last year. A substantial portion of the debt service sum will be paid to overseas creditors.
Currently, the Congressional Budget Office is forecasting that the Highway Trust Fund will run out of full funding in 2022. In 2026, the Medicare Hospital Insurance Trust Fund will follow. In 2032, the Social Security Trust Fund surpluses will run dry. All beneficiaries, regardless of age or income level, will confront a 21 percent across-the-board cut. Prior to 2030, America will likely experience trillion dollar annual interest payments. Current...
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