Columbia, SC — How can our nation expect to avoid a deeper recession and then a depression when our government spends $11 billion a day but only receives $5 billion each day in revenue? If this spending trend continues, our debt will rise tremendously over the next decade.
Since neither party is able or even willing to make the hard decisions that would lead to sharp spending cuts, I believe that the only leverage available, which would end in fiscal solvency, would be to immediately stop raising the debt limit. This would force both political parties to make the necessary and even painful spending cuts for all agencies, entitlements, etc.
I would rather the economy hit a snowbank in 2013 than a brick wall in 2023.
Joseph Blaine Kollar