Debt and deficit spiraling out of control

It is not something you hear talked about much on the campaign trail. But it is one of the biggest issues facing this country. The national debt and the federal deficit continue to soar. The debt is up to $21 trillion and counting. That figure is hard to comprehend, 21 followed by 12 zeroes. The deficit is up to $779 billion, and is projected to reach $1 trillion by next year. That may not be a hot-button issue for our politicians, but it has real impact on our daily lives. The more we borrow, the more we owe in interest payments. Interest on U.S. debt is projected to total $7 trillion over the next decade, and by 2026 will become the third largest spending category of the federal budget. That is $7 trillion that could otherwise be spent on roads, schools and other programs that benefit Americans. If the country continues to mount this massive debt, it may not have the ability to respond to unforeseen future crises. That means another recession could be deeper and longer. The deficit has been rising rapidly since Congress approved tax cuts. This is unsustainable, and raises the likelihood that Congress will move to cut benefit programs like Social Security and Medicare. The same folks who backed the tax cuts are the same ones ready to cut entitlement programs that benefit the most vulnerable in our society. The rapidly rising debt and deficit aren’t a big topic on the campaign trail, but somebody better start talking about it, and doing something about it. We can’t afford to continue on this dangerous path.