WAVE 3 Editorial, June 26, 2012: Debt Madness - wave3.com-Louisville News, Weather & Sports

WAVE 3 Editorial, June 26, 2012: Debt Madness

By Ken Selvaggi
WAVE 3 Vice President and General Manager

In the past THREE years federal spending has INCREASED $600 billion.

Our nation's TOTAL federal spending 50 years ago was $700 billion.

The debt we are amassing – nearly $16 trillion - is unconscionable.

To say it is not fair to our young people who will bear the burden of paying it off, is an understatement.

Add up everything our country produces annually and it won't eclipse our debt.

It is unrealistic to say raising taxes alone will pay off the debt since nearly half the households in the country didn't pay federal income tax last year.

We need to cut spending. Borrowing the money only makes the problem worse. Don't spend what we don't have.

That takes members of the Senate and Congress with strong backbones and we don't have very many of them. We better get more of them quickly or we will have a shell of the country we have had for them to govern.    

Copyright 2012 WAVE News. All rights reserved.    

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