"Even Democrats and their friends in the mainstream media (MSM) must know that you cannot spend money you do not have forever. When the amount of spending taking place leads to a situation where we owe more than the entire value of the Gross Domestic Product (GDP) of the United States, it is just a matter of time until our day of reckoning.
None of this is esoteric economic theory. It is simply common sense. Not only that, but this level of debt is also a matter of national security. Starting with China, so much of this debt is held by those who do not support American interests or our way of life for that matter. In fact, the evidence is abundantly clear that they are actively working to undermine our place in the world. Does anyone doubt that China is more than willing to do things to create havoc and economic hardship in the United States?
We have rationalized decades of excessive spending as being necessary, for one reason or another. Where does it leave us? The bottom line is we are living on borrowed time. When Barrack Obama was elected in 2008, the national debt was $10 trillion. Today, it is almost triple that, $28.3 trillion. That is a lot of spending in not many years. Worse, that debt is more than 125 percent of our GDP. When the 20th century came to a close, it was less than 60 percent of GDP. To walk past the National Debt clock in New York City, which I did for many years, can stun you with how much debt is being accumulated so quickly."
