In the time it takes you to read this post, our national debt will have increased $15 million. You all need to understand just how serious this issue is. Compounding the problem is that -- except for a small group of conservatives -- there is NO DESIRE in Washington to deal with this crisis.
We're now spending so much that another trillion dollars is added to our national debt every ~100 days. It's gotten so bad that if we were to increase taxes enough to cover even HALF of this obscene spending, it could likely send our economy into a nosedive. In other words, tax revenues are not the problem. Massive overspending is the problem!!!
You also need to understand most people I serve with in Washington -- on both sides of the aisle -- are NEVER going do what it takes to fix this problem. That's because politicians don't get re-elected by cutting spending. Quite the opposite, in fact.
Too many people walking the halls of Congress simply don’t have the backbone to cut spending and impose meaningful reforms. So I fear the question is no longer IF we will reach that fiscal cliff, but instead WHEN.
When the postmortem is written on our nation, I’m certain one of the biggest contributors to our downfall will be the failure of our Constitution to require a balanced budget.
