The Cost Of Voting Democrat – The Chattanoogan

Soon half of every dollar paid in federal income tax will be paying interest on the national debt (CNBC, Peter Tanous, 1/27/22). According to the US Treasury, $7.4 trillion is owed to China, Japan, oil exporting countries and Caribbean banking centers (Statista, Erin Duffin,8/2/22). The Social Security Trust Fund accounts for much of the rest of the $30.6 trillion debt (Statista).

When Obama began the debt was at $10.6 trillion and he left with an astounding $19.9 trillion (CNBC, J Cox, 2/2/19). The debt rose $7.9 trillion under Trump (WashPo, A Sloan, 1/14/21) mostly due to costs related to COVID and the pandemic stimulus. TheNYTimes (3/11/22) reported over $100 billion of that money hasnt ever been distributed by the Treasury. Why is that if we were told it was so imperative two years ago?

When Joe took office, the debt was $27.8 trillion rising $2.8 trillion to $30.6 trillion today. Who can say what his college debt forgiveness scheme will add? Didnt Madame Speaker say in 2021 Biden doesnt have the legal authority to forgive debt? Pelosi said Trump broke the law over a phone call (BBC News, 9/24/19) and the Democrats impeached him.

Dont expect Pelosi to bring articles of impeachment on Joe or any of them to care who is saddled with paying for it this folly. Thats because there is no debt cancellation, its a debt transfer to generations of those who didnt incur it and Pelosi said its illegal.

Al Gore announced in 2000 his top goal for being elected president was a steady reduction of the national debt (NYTimes, 4/26/00) which was only $5.6 trillion then. Joes debt transfer debacle wont fulfill Als dream nor will it lower inflation any more than his Inflation Reduction Act, but thats the cost of voting Democrat.

Ralph Miller

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The Cost Of Voting Democrat - The Chattanoogan