I agree with some of Senator Elizabeth Warren’s ideas but like everyone else in office or running for office she is carefully avoiding the huge deficit and gigantic debt. All Warren and the other Democrats can think about is new programs and the taxes which might pay for them.
The first bill we need to pay is the deficit. President Clinton and Speaker Gingrich paid down all the 30 year bonds, the 20 year bonds, and were working on the 10 year bonds. The national banks around the world persuaded them to cease. Our bonds were their reserves.
The Bush tax cuts turned the pay down around and started rebuilding the debt. The Great Recession kept Obama from cutting the deficit. He was able to only reduce spending with sequestration. Trump’s tax cuts on top of Bush’s means we must borrow 40 cents for every dollar we spend. Our national debt exceeds by more than 15% our gross national product. If it can’t be turned around we will be a Greece or Italy.
John Kennedy’s words may never be more important than now. They apply to those in power and those who want to be. “Ask not what your country can do for you; ask what you can do for your country.” I must include raising taxes to President Reagan’s level and eliminating loopholes for a fair tax. We are about to drown in red ink so reducing the deficit and lowering the debt must be done in 2020. We do that by dumping Trump, who likes bankruptcy, and putting in a conservative or moderate Democrat.