OPINION:
Why do Democrats really want to spend $3.5 billion (some learned folk argue that is actually closer to $5.5 billion) at a time when we have an existing national debt of almost $29 trillion? Because today’s interest rates are extremely low.
Once the interest rates start to return to historical levels because of inflation (which is starting to become conventional wisdom) it would be political suicide to spend such huge sums (most of which will be borrowed, requiring additional debt servicing).
The Democrats want to do this now because doing it tomorrow will be too costly. And they want to do it without warning Americans that it will become too costly anyway.
Smoke and mirrors plus errors of omission. You do the math. Ask your representatives’ and/or senators’ offices how much each and every U.S. taxpayer will see taken off the top for the debt servicing of every hard-earned U.S. dollar that is paid into the U.S. Treasury as taxes. That is another reason the Biden administration wants to raise all of our direct and indirect taxes.
JAMES KOUT
Bowie, Md.
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