|(Image by Michael Ramirez)|
Lost amid the all the coin tossing, and accusations of voter fraud/stolen elections in Iowa; the US government reached a grim milestone earlier this week: The National Debt blew past $19 Trillion.
It seems the candidates among the Donkey Drove and Pachyderm Parade are too busy slinging charges of ideological impurity to have noticed this.
I'm not an economist. The sum total of my economic education consists of Micro-Economics, Macro-Economics in undergraduate school, and Political-Economic Theory in grad school.
So I've always been mystified by the causes of the national debt, and even more mystified by the unwillingness of our political leaders--from both parties--to take steps to begin reducing the National Debt.
I couldn't even begin to guess when our deficit issue will reach critical mass. (Notice I didn't say "if").
But I fear it will occur in our lifetime.
By then it will probably be irrelevant whether the sitting president has a "(D)" or an "(R)" at the end of their name.