James Lambert
Federal debt is growing by over $500k per minute & many in gov't don't seem to care
FacebookTwitter
By James Lambert
December 21, 2017

James L. Lambert, author www.16AmazingStories.com

It's apparent that many in Congress on both sides of the aisle are ignoring the growing national debt and the potential fiscal problems that such enormous federal debt could very well mean to our country. Just in the last 10 years the national debt has grown by over $8 trillion dollars and it doesn't seem to be slowing. Sadly, this issue continues to be avoided by not only our representatives in Washington as well as the national media, at all levels. .

Common sense tells us in our own lives that, in order to survive fiscally, we have to live within our means. Why is it so difficult to get this message to our leaders in Washington, D.C.? If you or I handled our personal finances in the same way that our federal government carries on fiscally, we would be all in bankruptcy court by now. Yet we still go on tolerating this huge debt problem.

People need to understand that eventually our young generation will have to pay the price for this. Unfortunately, most Americans don't fully comprehend how serious this dilemma is. A large part of the annual governmental expenditures just pays for bond debt, which continues to increase. With the huge growth of debt (especially during the Obama and Bush 43 administrations) government at almost all levels continue to significantly increased.

Currently, government bond rates range from 1% to 3½ percent. When inflation takes its periodic course (which over time is normal), interest rates will increase. This will obviously affect interest expense outgo. Clearly, this added expense will increase the amount of monies that the government has to pay on a regular basis, thus limiting more funds that would be normally used for other expenses.

This growing predicament should alarm not only all taxpayers but also members of the younger generations in light of all the subsidies that government today provides many citizens. These subsidies includes: social security, disability obligations, food stamps, healthcare subsidies (including Medicare and Medicaid), government aid to our retired military members, various subsidies for highway improvement, government loan expense for student loans and many other programs as well.

The budgets for all the above (and more) will be dramatically affected by a federal deficit that continues to spiral out of control. There will not be enough money available to pay for these and other programs and agencies, if our representatives in Washington (both House of Representative and Senate) don't get spending under control, especially spending involving various government bureaucracies. Spending on programs that are outside the scope of government's true function and government waste must be stopped and ended. It's about time our leaders take this serious, that is to cut government waste.

It's about time the public including the media start demanding that our government live within its means! It's time that we take a few minutes. You can do this by contacting your local Congressional Representative. You can ask their staff to tell their Representative to request their office to seriously start cutting government waste. Go to: www.house.gov/representatives . It is where you can find your local Congressional Representative's contact information.

Also, you may want to contact a great organization that genuinely believes in cutting government waste: Citizens against Government Waste. Their contact information is: www.cagw.org Thank you!

© James Lambert

 

The views expressed by RenewAmerica columnists are their own and do not necessarily reflect the position of RenewAmerica or its affiliates.
(See RenewAmerica's publishing standards.)

Click to enlarge

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)

Subscribe

Receive future articles by James Lambert: Click here

More by this author

June 17, 2024
Illegal alien entry through California border has dramatically increased of late


March 19, 2024
It’s time to get a Republican (like Steve Garvey) elected to the U.S. Senate in CA. It’s been 30 years!


January 28, 2024
Summer Camps are usually a very good experience for young boys & girls


January 9, 2024
U.S. federal debt is a serious impending national problem


December 18, 2023
Economic Disaster: Democrats are determined to end sale of new gas-powered autos by 2034


September 24, 2023
Why illegal immigration negatively affects our country


August 14, 2023
Remembering a nice friend from my teen days who sadly passed away recently


August 1, 2023
Gavin Newsom has taken action to fully eliminate oil extraction in California


May 30, 2023
Newsom & Democrats eliminate the freedom of dealers to sell gasoline powered equipment


April 10, 2023
Over 60 years: 7 heartwarming San Diego team appearances at National Championship games with only 1 win


More articles

 

Stephen Stone
HAPPY EASTER: A message to all who love our country and want to help save it

Stephen Stone
The most egregious lies Evan McMullin and the media have told about Sen. Mike Lee

Siena Hoefling
Protect the Children: Update with VIDEO

Stephen Stone
FLASHBACK to 2020: Dems' fake claim that Trump and Utah congressional hopeful Burgess Owens want 'renewed nuclear testing' blows up when examined

Pete Riehm
It’s not identities; it’s ideas!

Rev. Mark H. Creech
From ministry to need: Seeking help in my darkest hour

Jerry Newcombe
Bible sales increasing

Tom DeWeese
Change the debate and take back liberty locally

Steve A. Stone
Truth will out...maybe...someday

Curtis Dahlgren
On the need for noble mothers (and fathers)

Tom DeWeese
If you are illegal, come. We’ll give you $thousands and let you kill and rape. If you are legal, go to hell

Stanley Zir
The sky is not falling, Chicken Little, under Donald Trump

Jerry Newcombe
How Thanksgiving became a national holiday

Frank Louis
Thanksgiving Thoughts: If you think prayer doesn’t work, think again

Kari Lee Fournier
Almighty God vs. Satan: Thanksgiving during demolition of the Deep State!

Victor Sharpe
Glory or weakness: Israel’s eternal choice
  More columns

Cartoons


Click for full cartoon
More cartoons

Columnists

Matt C. Abbott
Chris Adamo
Russ J. Alan
Bonnie Alba
Chuck Baldwin
Kevin J. Banet
J. Matt Barber
Fr. Tom Bartolomeo
. . .
[See more]

Sister sites