Debt Reaching Scary Level
What media outlets have been reporting for weeks ought to trouble every American: thanks in part to President Joe Biden’s proposed $6 trillion budget for 2022, America’s debt would be greater as a share of the economy than it was during World War II.
Whether it is here in Greene County or in our country’s larger cities, most of us understand that new spending is sometimes needed. The nation’s crumbling infrastructure, as well as Tennessee’s near last-in-the-nation funding for K-12 schools, are good examples.
While I believe the recent borrowing and spending for COVID-19 funding was mostly justified, and supported in various ways by Republicans and Democrats, there must be a better plan from Washington to slow down spending and get the nation’s debt under control.
Such high spending could hurt the United States in the long term, weakening our fiscal foundation for years to come.
There simply must be a better framework to address soaring debt. We owe at least that much to future generations.