Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Stop Ignoring the Economic Elephant in the Room

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Stop Ignoring the Economic Elephant in the Room

Article excerpt

Hardly a day goes by without some news or comments about how well the economy is doing. Much of what seems good is just a continuation of the economic trends of the past seven years, not a sudden turnaround. But everyone seems to be ignoring the big economic elephant in the room.

Since the passage of the GOP tax cut bill, we are now pouring one trillion dollars a year of borrowed money into an economy that was already healthy. Deficit spending is justified when we are trying to dig out of a big recession, but now is when we should be paying down the federal debt, not increasing the rate of addition.

After listening to eight years of GOP complaints about the federal deficit, suddenly those hypocrites turn around and make it worse. They tout the pay raises and bonuses being handed out, but ignore the fact that the source is mainly federal debt. …

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