To the editor:
Mark Coryea recently wrote in Sound Off that we must pass a balanced budget amendment, and he is correct. His brief analysis of the impact of the cost of simply servicing the debt is mind boggling.
And before anyone gets too puffed up by blaming any one party, please don’t. Both parties are at fault. They just have different reasons to spend money today that allows us to feel more prosperous. But by this borrowing, that money is coming from mortgaging our offspring and their progeny — unless it is possible to borrow forever and never pay it back.
Unfortunately, a balanced budget law will never pass no matter which party is in power. Congress will never give up stealing from the future generations to make their constituencies lives a little better today. They do everything possible to get reelected. They are addicted to debt and, more specifically, to the power they derive from perpetuation of that debt.
Mark, I hope you write more on this topic so that the conversation continues and hopefully moves forward. I know you could give a great financial analysis. And perhaps the conversation can move on from town to town across the country so that Congress realizes that they must do the right thing and address the debt burden that has been leveled on all of our descendants. Their responsibility is not just to the present voters, but also to our future generations