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Now's the time to stop increasing the national debt

Published: January 26, 2013
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Reports say the national debt can't be sustained, yet there's no action. Comparisons with personal debt are made, but when personal debt reaches limits, painful things happen — canceled credit, bill collector calls, lawsuits. Bankruptcy can be demeaning. Conversely, no one suffers or feels the pain of national debt, so why complain or force a stop? Does anyone think they'll face a bill? Is there a Chinese bill collector at your door? Children will have to pay? Ha! That was said when the current spenders were children. Unless the pain of cuts is felt, there'll be no fix.

The potential of the country going into chaos a la Greece, riots, shutdowns and fear in the streets isn't unthinkable. On the debt limit debate, now's the time for some pain. At the very least, let's stop the real growth in the debt. A line drawn today, while difficult, is preferable to the potential of a national calamity.

Bruce Smallwood, Edmond


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