The Democrats in Congress quadrupled the national debt. All a matter of perspective. Anyway, what overspending are we talking about? The arms spending and R&D that buried the Soviet Empire and provided the peace dividend? Got more than our money's worth, I would say.
The fact is that if the federal government kept books like a business, and put capital borrowing off to the side, we would not be running these kind of deficits. A good deal of the borrowing is for "plant", for example: federal office buildings, military bases, R&D facilities, depreciation, and so forth. That should not be in the current operating budget. But the larger point is a comparison of debt service, which is about 20% of the federal budget. Once one counts mortgage, cars, and revolving charges, debt service may account for much more than half of a family budget. After taxes, perhaps 75%.
I cannot comment on your company. Statistics demonstrate that the median income increased in the Reagan-Bush years, and that most people fared better,as they moved into higher income categories. But I do not wish a statistics war. You either believe that capitalism is the main way to increase prosperity in the long run, or you don't. |
