Thursday, September 26, 2013

Examiner Editorial: Six reasons why the national debt keeps growing

By Editorial | SEPTEMBER 25, 2013
Congress knows it must get a handle on America's debt problem, but actually doing it is another... "The bottom line remains the same as it was last year, Congressional Budget Office Director Doug Elmendorf told reporters Sept. 17, when the CBO released its latest Long-Term Budget Outlook. The national debt is $17 trillion and counting but not for much longer, Elmendorf said, because “the federal budget is on a course that cannot be sustained indefinitely.”
Congress knows it must get a handle on America's debt problem, but actually doing it is another matter. Individuals work their way out of debt all the time; governments, especially republics, almost never do so apart from defaulting, collapsing, inflating their currencies or some terrible combination of the three.
It would help if senators and representatives reflected deeply on financial expert Dave Ramsey’s “6 Reasons People Stay In Debt” and applied them to Congress. As a public service, here’s a quick summary of how Congress should adjust its behavior:....To Read More....

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