Letter to the editor: U.S. debt is a house of cards that will inevitably crumble | SummitDaily.com

Letter to the editor: U.S. debt is a house of cards that will inevitably crumble

Bill Browning

I’m responding to Sandra Bruns’ letter to the editor published in print May 13 titled “Republicans holding the US hostage should be criminal.” 

The flip side of that coin could read: Democrats’ irresponsible spending, which crushes future generations, should be criminal.

For the record, I am a registered Independent and educated (doctoral degree), and I have a basic understanding of economics. I see the fallacies of both political parties’ philosophies. I often hear Ms. Bruns’ Democratic talking point of tax the wealthy its fair share, but I never hear their definition of what is fair.  

The most recent data available confirms the top 1% of earners pay 42% of federal income taxes. Recent excess spending has fueled runaway inflation, which I feel every time I go to the grocery or the gas station. Biden’s policies are a detriment to our energy independence, sovereignty and financial well-being.

Our nation had one of its greatest expansion periods following John F. Kennedy’s term, where the tax rate was decreased from a top rate of about 90%. I strongly encourage the adoption of a balanced budget amendment, along with a plan to start paying down the national debt.

To accomplish this, let’s vote out the extreme right and the extreme left and elect some common-sense moderates of both parties that can work together for our benefit. This constant raising of the debt ceiling creates a house of cards that will inevitably come crashing down — and that will be criminal.

Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Summit Daily is embarking on a multiyear project to digitize its archives going back to 1989 and make them available to the public in partnership with the Colorado Historic Newspapers Collection. The full project is expected to cost about $165,000. All donations made in 2023 will go directly toward this project.

Every contribution, no matter the size, will make a difference.