James Lambert
Congress continues to ignore national (fed) debt—resulting in negative consequences
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By James Lambert
July 26, 2022

With the national / federal debt now exceeding $30.6 trillion dollars, our Congressional Representatives and Senators do not understand the urgency in addressing this growing national problem.

The problem in Washington, DC is that our politicians are not addressing this problem of namely our country’s exploding national debt which has significantly increased over the last 15 years. By searching the website www.nationaldebtclock.org you will discover that, currently, our federal national debt is growing by an astounding $1 million dollars every 45+ seconds.

Yet, do you hear about this in the national media? Does your local newspapers ever address this growing problem. No! And further, do you ever hear any or even few of our elected politicians discuss this issue? No. Apparently they don’t understand the long term consequences of such an enormous federal debt.

As an MBA, economics graduate I understand that the government is ultimately required to pay this debt off. Not only that but we (as taxpayers) are required to pay the monthly or quarterly interest on these debt / bond obligations.

Clearly this is a major problem for future generations also. Perhaps one way of addressing this is for our leaders to cut back wasteful spending. Back in (the summer of) 1971, as a government intern, I saw evidence of quite a bit of evidence of government waste. Certainly, Congress has the ability of doing this on a large scale.

Often, our government over spends on projects. They need to carefully determine costs and allocate accordingly. Living in California I see, first had, the enormous waste of government money in our public transportation services. All one has to do is see how many people are traveling in these large buses around town. For the vast majority of these buses there are a few people (2-4) on board (for a bus that is designed to take 30-40 people. This is only one example of government waste.

Just think of these days where thousands of illegal immigrates are passing through our borders (and violating our border law). Yet, through all this, the Biden Administration is eager to pay for their passage and transportation to other states around the country. They will even provide federal subsidiary income for them. This is outrageous.

Taxpayers need to respond to this. We need to voice our opinion this November during our elections. We sincerely need to make the best choices. I urge you to clearly check the background and policies of each our candidates. By this I hope you understand the importance to electing fiscal conservatives. We need these advocates to be elected this Fall.

© James Lambert

 

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James Lambert

James Lambert has a broad business background. After receiving his undergraduate degree from Linfield College (McMinnville, Oregon), Lambert pursued a career in banking by working in various management capacities for Crocker Bank, San Diego Trust & Savings Bank and First Interstate Bank (between 1973 and 1995). By 1990 Lambert received his Master in Business Administration from National University (San Diego). For 3 years, Lambert also taught Finance at Mira Costa Community College... (more)

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