National debt

The pending passage of the big new bill has once again brought the debt into focus. The democrats spend a lot of time pointing out how the bill will increase the debt, already at $37 trillion. When the democrats spend money, the republicans complain vociferously and predict the end of the world. Any casual observer, quickly comes to the conclusion, that neither party is really concerned about the debt, because they both use deficit spending to get votes, which is far more important than the national debt. No individual or group wants to lose their tax advantage. Businesses love accelerated depreciation, home owners love interest deductions, poor people love the safety net and rich people love off shore accounts. It all comes down to the old adage, don’t tax you and don’t tax me, tax the man behind the tree. People don’t have the maturity to give up their tax breaks and elected officials don’t have the courage to ask them to. The only reasonable way to lower the debt, is to reverse the process that created the debt and this is to limit future spending, to slightly less than the annual inflation rate. In 75 years or so the debt will be paid. Can this be done, yes. Will this be done, not likely.