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Someday the proverbial piper will have to be paid.
As often happens, though, the politicians in Washington are choosing to ignore this fact. They can’t stop spending. As a result, the federal budget deficit is spiraling out of control.
All Americans ought to be concerned, since they are the ones who’ll be stuck with the bill.
Remember the glee politicians displayed a few years ago when they predicted a balanced federal budget and eventual elimination of the national debt within a decade. The idea of "pay-as-you-go" was actually gaining momentum.
No more!
Of course, excuses abound for the meteoric rise in deficit spending. The September 11 attacks! The sharp rise in military spending! The enormous cost of homeland security!
In the midst of all that came a tax cut designed to stimulate the economy.
Chances are slim a booming economy, if it materializes, will grow America out of the rapidly expanding deficit any time soon, especially when unbridled lawmakers on both sides of the political aisle keep adding pork to federal spending.
Yes, KSL is concerned. We hope you’re concerned. And somehow, we hope Washington becomes sufficiently concerned to start thinking more devoutly in terms of fiscal restraint.
