The National Debt is Beyond Our Comprehension

Apparently, the national debt, currently at more than $14 trillion, is not high enough.  President Obama and the Democrats in Congress want to raise the debt ceiling so that we can increase the national debt.  So far as I can discern, their logic must be that when you are in a deep, deep hole, the way to get out is to dig the hole deeper.  The Obama administration argues that unless the debt ceiling is raised, the government will be unable to pay its bills, and that would result in catastrophic consequences.  They may well be right, and I am not categorically opposed to raising the debt ceiling. However, I do believe that we need to get a handle on the nation's financial situation.  There seems to be near universal agreement that we are going to run deficits of more than $1 trillion every year for the foreseeable future.  So long as the government spends more each year than it takes in, it will be increasing the national debt.  And no matter how the...(Read Full Article)

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