What would you do with $300 billion.
Or, debt, and service on the debt, does matter.
Maybe $300 billion doesn't go as far as it used to, but how could you better spend the $300 billion wasted in debt service? Let's count the ways ...
... love guns? Double national defense.
... love poor kids? Individual counselors for every child in Head Start. With leftover, rebuild every crumbling school, and discard every overcrowded mobile classroom. Oh, and give every teacher a healthy spending allowance for school supplies.
... hate taxes? The mother of all tax cuts.
... hate bad TV? Buy FOX, ABC, CBS, and NBC. Hit delete. (and fund PBS).
... love the environment? Just imagine.
The debt may be small be some academic measure compared to the GDP, and "only" 20% of a Federal budget makes the number seems less, but $300 billion is big money any way you try to slice it. Unless there is a compelling economic reason not to, it is irresponsible to be cutting taxes with a debt of this size, especially with the looming demographic crisis approaching in Social Security. Times are good. Time to pay bills. |
