If we don’t change our ways, the federal debt will bankrupt the United States [letter]
The national debt increased $7.8 trillion during the first Trump administration, equal to about $22,500 per person in the United States. The final year of Trump's first administration was during the COVID-19 pandemic, which is one factor in the amount that the debt rose.
Beginning this month, our total debt is almost $36 trillion or roughly $101,700 per person, including babies born today. That is about 125% of gross domestic product. Unless our spending is controlled and interest rates are low, soon the debt interest payments will be close to or exceed our gross domestic product.
Those to blame for this predicament include unelected officials such as those in the Federal Reserve, unelected commissions and reckless presidents and members of Congress.
What is more important is this: What can we do to get ourselves out of this mess?
The answer for the government is the same as for any successful person or organization — pay our debts and live within our income.
Is it possible? Of course. Will we? We had better, if we want to save our country from bankruptcy.
Jack Bryer
West Chester, Chester County