Federal Debt

I was very pleased to see that in his weekly radio address the President talked, inter alia, about the accumulating federal debt, talking in terms of budget deficits.

But as we work to create jobs, it is critical that we rein in the budget deficits we’ve been accumulating for far too long – deficits that won’t just burden our children and grandchildren, but could damage our markets, drive up our interest rates, and jeopardize our recovery right now.

Frankly, for the long run the Federal Debt is much more important than the unemployment rate.  If we get the debt too high and then we get runaway inflation, or our creditors pull in the credit, we are going to be in big trouble.  So, as we go forward with efforts to create jobs, we need to also get the deficit spending under control.

Frankly, we can't have it all.  Part of the job of our elected representatives in Government is to figure out how best to apportion the pain.

Regards  —  Cliff