Reader wants president to be responsible with country’s finances
To the editor:
What happens when someone owes more money on the interest he/she owes than he has income to pay that interest (forget about paying on the principle, or even having enough money to pay for basic needs). In the United States, a person may be able to declare bankruptcy, but not all debts can be cleared in bankruptcy court. I get the impression that our president is a very personable and strong-willed guy. Those are good qualities to have in a president. He also seems to have other good qualities, such as being concerned for the poor. But if our president wants to be a great president, he needs to lead our people down a responsible path.
It is not considered responsible to take on more debt that one can pay. To take on debt for a short-term crisis, such as paying for our military in a war (e.g. [World War II]) may be necessary. However, to continually borrow money to pay normal day-to-day expenses is a surefire way to lead to poverty. Theoretically, the national debt limit can be infinite. Unfortunately, our day-to-day income (although huge) is finite. If we cannot meet our minimum payments, we then begin to default on those payments. By routinely increasing the debt limit, it is only a matter of time before the United States begins to default on its payments. It is only a matter of time! By then our president’s term of office will be over, but the seeds he will have sown will destroy our country. Then the poor people that he was trying to help will be hurt that much more. Misguided short-term gain leads to long-term poverty.
Let our president know that we want a responsible man to lead this country. And to be responsible, he needs to learn to ‘tighten our country’s financial belt,’ before we ‘lose our shirts.’
John Burhoe, Fairlawn
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