Maxing out our credit card won't reduce national debt
During the second presidental debate and several times during campaign when talking about the debt, President Barack Obama said he inherited two wars which were put on a credit card.
Fair point. However, he knew this when he promised to cut the debt in half when elected the first time.
When talking about plans for a second term, he says he will take the savings from ending the two wars and invest in more infrastructure and hire more teachers. If this is borrowed money, is it really savings we should be spending or breathe a collective sigh of relief we now have that we’ve reduced the debt?
I do not understand how we can reduce the national debt if our mind-set is to keep our credit cards maxed out.
Tom Norton
Fair point. However, he knew this when he promised to cut the debt in half when elected the first time.
When talking about plans for a second term, he says he will take the savings from ending the two wars and invest in more infrastructure and hire more teachers. If this is borrowed money, is it really savings we should be spending or breathe a collective sigh of relief we now have that we’ve reduced the debt?
I do not understand how we can reduce the national debt if our mind-set is to keep our credit cards maxed out.
Tom Norton
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