Chris Edwards give us a much-needed historical view of the federal debt in this post.
While scurrilous politicians tell us to relax because the federal deficit is coming down, as Obama keeps saying, the long-range outlook is for a rapid acceleration of federal debt. That is one of the many good reasons for ditching Obamacare, but also many other needless and counterproductive federal programs.
We keep hearing statists complaining that never before has so much effort been put into trying to block a federal law as is the case with Obamacare. Too bad that more effort wasn’t put into blocking large numbers of other budget-busting porkers in the past. Otherwise we wouldn’t be in such fiscal trouble. And because we are in such trouble, stopping the politicians from making the situation much worse with new spending and entitlement programs is vital.
