By Mike Dauw, Mankato
Lester Holt, weekend news anchor of NBC Nightly News, recently reported that the U.S. debt level is now at $16.4 trillion. In addition to this, he said our debt level is increasing at the rate of $140 million per hour.
Wow. The U.S. government is now borrowing money at a rate of 40 percent of every dollar it spends.
When will change occur? This year is the time to act. Raising the debt ceiling to next year or to a new administration is not the answer. Our politicians need to listen to ideas of the people and solve this debt problem.
Some people have suggested a 10 cents per gallon federal gas tax increase with all of this money going toward reducing the federal debt. Others have suggested more lotteries, with those taxes going solely to reducing the debt. Maybe a special federal tax will help.
A 10-year debt reduction plan is needed with a goal of a balanced budget by 2023. We don't want to be living in a bankrupt country.
What are your ideas?