The vast majority of Americans understand the nation has to stop spending and borrowing so much money. At $16 trillion, the annual expense for just the interest on the debt alone costs more than twice the amount collected from ALL CORPORATE INCOME TAXES. So while politicians argue endlessly about changes to the tax code and what is or is not a ‘fair share,” they ignore the elephant in the room – deficits that require we add more and more money to the debt are dwarfing the gains we may get from marginal tax increases. Our deficit spending is unsustainable and everyone knows it. Yet, so many politicians don’t focus on resolving this most critical issue because resolution is hard and potentially unpopular. Still they know, even if they won’t always admit it, we cannot keep kicking this issue down the road by talking about something else. At some point, and that point is coming soon, there will be so many cans down the road, we can’t kick this one anywhere. The longer the resolution is put off, the more difficult it is going to be.
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