I am a candidate in the May 15 Nebraska Republican Primary for U.S. Senate. The incumbent Deb Fischer is running for reelection. She is a nice lady and represents Nebraska well in many respects. For example she is on the Senate Agricultural Committee which is important to the Nebraska economy.
But there is one major way in which Fischer is falling down on the job. She is ignoring our enormous and out-of-control national debt. In fact she has voted twice recently to make the debt even worse than it already is. The new tax law increases debt by $1 trillion over the next ten years even after new growth is taken into account. The new budget deal could add an additional $2 trillion to the debt over the next decade. Fischer voted for both of these items. I want to emphasize as strongly as possible that this is why I am challenging her in the Republican Primary.
Of course, I have positions on other issues. For example, I have recently endorsed a ban on assault weapons. But for me there is a huge difference between fiscal and social issues:
- Our national debt, now 77% of GDP (for the public part on which we pay interest) is projected to reach 109% of GDP in just 10 years and to keep increasing way beyond that. As interest rates rise to more normal historical levels, interest payments on the debt will increase by hundreds of billions of dollars per year. This will almost surely lead to a severe fiscal crisis in the relatively near future, causing huge damage to our economy, unless we make major changes in current policy.
- Social issues are much different. They will eventually get resolved through the normal political process. Mass shootings in the U.S., for example, are intolerable to an overwhelming majority of Americans. If the NRA continues to oppose sensible changes in gun regulations, then many of its Republican supporters will eventually be replaced by Democrats who will enact the needed changes.
Conclusion. Our rapidly growing national debt will lead fairly soon to an existential crisis if left unattended to. The problem of mass shootings (as an example of a festering social problem) will be resolved by normal political processes.