Debt and Deficits

Everybody is worried about spending $200 billion in Iraq? $200 billion on Katrina? We spend more than $300 billion each year for interest on the National Debt.

Now if, as Bill Clinton said on Meet the Press Sunday, we are borrowing money from nations like Japan, China, and Korea “every day to cover our deficit,” then aren’t we paying the interest to them?

Do you see how we are squandering the riches of this country, throwing away money for nothing except interest? I think running up the National Debt ought to be a crime. In my mind it already is.

P.S. Also on Meet the Press was Vice Admiral Thad Allen. He is very knowledgeable and articulate, the kind of man you need to do a tough job like the one in New Orleans. We need more men like him