Get our newsletters
Letters to the Herald

Taking on debt you can not pay

Posted

A letter in the June 1 issue (“Don’t tie paying our debts to controlling future spending”) tries to argue that our government has no alternative but to continue to spend ever more than the revenue it receives.

The concluding paragraph pleads that “paying bills and controlling future spending are two entirely separate matters.”

No, they are intimately related. The problem with not controlling spending today is that the future bills of tomorrow, like the ever-increasing interest on the national debt and the cost of caring for the millions of our recent uninvited visitors, e.g., will continue to overwhelm our ability to pay them.

If a homeowner blithely continues to spend more than his income, eventually the mortgage won’t get paid. Banks turn a jaundiced eye to those who are merely late and the house will soon be forfeited.

In the current fantasyland in which we now exist the debt we hold can never be repaid, and continuing to increasingly add to it just further burdens the future generations we are here to protect.

Stephen Hanover, Plumsteadville


Join our readers whose generous donations are making it possible for you to read our news coverage. Help keep local journalism alive and our community strong. Donate today.


X