Why Millennials Should Support Me for U.S. Senate II. Our Appallingly Bad Fiscal Outlook


I am a candidate in the Nebraska Republican Primary for U.S. Senate against the incumbent Deb Fischer because she is ignoring out enormous and out-of-control national debt. In fact she has voted twice recently to make the debt much worse than it is already.
In my last post I made the case that debt is by far the biggest long term problem facing our country and that it will be a huge burden on future generations, starting with the millennials.
A new report from the Congressional Budget Office shows just how bad the problem really is:

  • To just stabilize our debt at the current level of 78% of GDP (for the public part on which we pay interest) will take a savings of at least $5.4 trillion over the next ten years. To achieve even this modest goal would require reducing annual deficits by roughly 50%.

  • To balance the budget by 2028 (allowing ten years to accomplish this) would take a savings of least $7 trillion over the next decade.  This would mean reducing annual deficits by $700 billion per year on average, an extremely difficult task.

Such numbers as these show how frightfully serious our fiscal situation is.   Our national leaders should be working hard to focus the country’s attention on this awful problem and how we are going to address it. Instead they won’t even come together to negotiate sensible annual budgets.

Conclusion. How will our debt problem be resolved? Will it take a new crisis to wake up the country to our extremely dire fiscal situation?  I prefer to be optimistic and hope for sensible action to head off a new crisis.  But there is absolutely no guarantee that common sense will prevail.

4 thoughts on “Why Millennials Should Support Me for U.S. Senate II. Our Appallingly Bad Fiscal Outlook

  1. We must fully recognize that our nation’s future survival will be determined by our level of AUTONOMY within the world-wide market-place arenas of Resources, Knowledge and Human Dignity. Without AUTONOMY within the world-wide arena of Resources, nothing else matters. The first step is to limit growth in health spending to 0.5% less than economic growth for a minimum of 10 years. It is a tragedy to lose Representative Ryan. I know he understands this. To his credit, Family comes first.

      • Many years ago, Margaret Meade (1901-1978) said: “Never doubt that a few committed people can change the world. In the end, it’s the only thing that ever has.”

        I am giving a presentation on June 23 in Seattle at the AcademyHealth annual research meeting about our Nation’s state by state worsening maternal mortality incidence, now for more than 25 years. You never know what might happen!

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