Our debt is growing so fast that we will soon be bankrupt if we don’t change what we are doing. We have simply got to figure out how to fix the debt. I am Jack Heidel, a retired UNO math professor and not looking for a new career. I am confident that I can make a difference in one six year term in the U.S. Senate. Please vote for me on May 15 in the Republican Primary.
This is the text of a TV commercial which begins running this weekend in the Omaha and Lincoln areas. It attempts to summarize in one short statement what I have been saying for a long time:
- Our debt (the public part on which we pay interest) is now 78% of GDP and predicted by the Congressional Budget Office to reach almost 100% in the next ten years. Annual deficits are growing rapidly and will be back to almost $1 trillion by next year.
- The incumbent Deb Fischer is totally ignoring the debt and has actually voted twice recently to make it worse than it already is. The new tax law, for all of its good individual features, will increase the debt by $1 trillion over ten years, even after new growth is taken into account. The new two year budget, also voted for by Fischer, increases the debt by another $1 trillion.
- Fixing the debt doesn’t mean paying it off but rather shrinking annual deficits way down so that they are less than the rate of growth of GDP. Then the debt will begin to shrink as a percentage of GDP just as it did after WWII.
- Entitlement reform and, in particular, the high cost of American healthcare, is the only practical way to deal with the debt problem. All of us, as healthcare consumers, must have more personal responsibility for holding down the cost of our own healthcare.
Conclusion. I am so alarmed by our enormous and out-of-control debt that I am challenging an incumbent U.S. Senator in a primary election. If you live in Nebraska I would appreciate your support!