Category Archives: National Debt & Budget

“From 1791 to 1969 the basic principle that our nation’s finances was based on was debt was something a strong nation worked to avoid. We actually eliminated the nation’s debt after the War of 1812 and eliminated two thirds of our debt after the Civil War. Beginning with 1970 using debt even during times of prosperity and relative peace became an accepted policy. That has resulted in only four surpluses in the past fifty-two years and eleven projected deficits on top of those.”

“I couldn’t help but chuckle when I saw the example that Merriam – Webster uses for their second definition of “expenditure”. “Income should exceed expenditures.” Wouldn’t it be nice if our members of Congress and those in Washington understood that and put it into practice. Instead they are lamenting the fact that the tax code includes deductions and credits that are taking money away from them.”