From the farewell address by Dwight D. Eisenhower in January 1961: “We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive, not to become the insolvent phantom of tomorrow.”
The mortgage is due. The national debt is now $16 trillion. Let’s avoid the insolvent phantom and pay the mortgage.
History proves that the mortgage isn’t going to get paid unless those who currently seek congressional seats and the White House are required to show their fiscal hand before they get elected. Without this advance information from candidates, there will be no later accountability. Absent accountability, our political and spiritual heritage will disappear.
Candidates should be asked:
Will you be accountable? How would YOU handle OUR gross domestic product?
How much of the GDP ($16 trillion) do you want to take in taxes? Current take is $2.3 trillion.
How much will you spend on programs and debt interest? (Current spending is $3.6 trillion).
How much and when will you cut the annual $1 trillion deficit?
At what point in time will your plan eliminate the annual deficit?
At what point in time will your plan stabilize the national debt as a percentage of GDP?
At what point in time will your plan pay off the national debt?
If candidates can’t present in their campaign literature or on their website a date specific, taxing/spending/deficit-debt reduction plan that will operate without destroying our economy and the domestic peace and tranquility, then they should withdraw from the race. Their election would just endanger our political and spiritual heritage.