America is now almost $35 trillion in debt. That means every American owes $100,000.
The Biden administration doesn’t care. They want to spend more.
Already they are spending so much that they’re increasing our debt by a trillion dollars every 100 days.
President Donald Trump was no better. His administration increased our debt by almost $8 trillion.
This will not end well.
Last year, we hit a new ugly milestone: Americans must pay $1 trillion per year just for interest on our debt. That’s more than we spend on defence — on infrastructure, education, poverty programs … everything, but Social Security and Medicare.
If we didn’t waste these trillion dollars on interest, we could give $3,000 tax cuts to every man, woman and child to use as they please.
Worse, America’s spending growth is unsustainable. You can stretch a rubber band farther and farther, but eventually, it will break.
This column has reported on the politicians’ irresponsibility for a long time.
In 2019, I complained that our debt increased by a........