American adults have turned traditional holiday values on their heads by buying gifts for ourselves and putting it on the national credit card for our children to pay. That’s how Sara Imhof, The Concord Coalition’s Midwest regional director, views the federal debt that is now approaching $14 trillion.
“Unfortunately, gifts are not free and we are currently buying (federal) presents for ourselves and sending the bill (national debt) to our children . . . “ Imhof wrote in a guest column Sunday in the Cedar Rapids Gazette. “Future generations will be saddled with the bulk of this debt, even though they had no say in creating it.”
She praises the work of recent bipartisan commissions that have recommended policies that could help the country recover from the recession, curb future federal deficits and repair the big entitlement programs.
External links:
Let’s Resolve to Pay Down U.S. Debt
President’s Fiscal Commission Report
Bipartisan Policy Center’s Debt Reduction Task Force Report
