|Source:Peter G. Peterson Foundation- Americans who will probably be paying for the national debt for the rest of their lives.|
For anyone who tries to tell you that deficits and the national debt don't matter, whether they're Socialists on the Left or supply Neoconservatives on the Right, ask them one question: "then why do we need taxes if we we have unlimited borrowing power?" If deficits and debt doesn't matter and you have unlimited borrowing power, you wouldn't need taxes. If you want government to do something or increase spending, since you have unlimited borrowing power like someone who has their own printing machine and just print money every time they want to spend money, you can just print the money you need and want to spend.
|Source:Retirement Income Journal- You still think the national debt doesn't matter?|
|Source:Slide Player- As the photo says|
If you call yourself a Progressive, these are just some of the investments that America could be making for their people to improve their lives. But we can't do these things and a country and do other public investments when we're giving out 390 billion dollars a year ( and growing ) simply because we're not adult and responsible enough as citizens and public officials to pay for the things that we want our government to do for us every year. Of course deficits and debt matters and they don't go way simply by saying, "we'll just tax the rich" especially when even if your IRS actually gets that money would just be spent on new programs or put into additional government programs.