Federal $30 Trillion Milestone On The Horizon

With as many problems as the U.S. has, it’s tempting to think that things can’t get much worse. However, not only can they, they are getting worse.

According to a recent article by Stephen Dinan of the Washington Times, in less than 10 years, the U.S. Federal government will have a behemoth of a national debt, weighing in at a whopping $30 trillion.

Much of the reason for this is simple: The Federal government spends much more money than it takes in. Also contributing to this is anemic economic growth and the failure of Federal efforts to control the healthcare insurance industry (aka Obamacare).

With no end in sight to the one-size-fits-all mandates from Washington nor its addictive reckless spending, and with both major parties seeing fit to ignore this problem, the United States’ future, its not-to-distant-future, looks pretty dim.

However, where many see disaster, others see opportunity. Since Washington refuses get its fiscal house in order, perhaps Texas can. If Texas were to reclaim its independence, it would be possible to freeze our portion of the national debt and begin paying it back. This would at least put Texas on sound financial footing, even if the U.S. seems reticent to give up its credit card.

Being old enough to remember those innocent days when there was worry over deficits in the billion-dollar range, I have little hope that D.C. will change. It is too set in its ways, too beholden to special interests, and craves too much the voter loyalty that comes from giving away money we don’t have.

Nevertheless, Texas doesn’t have to be bound to the same fate of fiscal collapse that the United States seems destined for. Texas can do better.

 

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