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Opinion >  Letters

Debt is out of control

The Spokesman-Review

God tells us in his wisdom that we are not to be in debt. That it is bad.

In this country debt has become a way of life. Until the financial collapse, debt was the most heavily marketed product in America. When you read the statistics on how much debt the average family carries it is staggering.

The debt overload doesn’t stop at families either. Big corporations cannot even run their day-to-day operations without borrowing money. This crisis could have been substantially weakened if businesses were run properly. That is, if our great and wise business leaders ran their companies with as little debt as possible.

Then there is our federal government. A trillion dollars of debt just next fiscal year! At the rate this country is spending money, interest on our debt will become the biggest slice of the national budget in a few years. This country will be no different than the individual that can only pay the interest on their credit card debt.

I am not saying there should be no debt. I am saying it should be used responsibly by everyone – individuals, business leaders and government entities.

Charles L. Neill

Spokane


 

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