Taylor J. Smith wrote:
Paying interest on this debt as it continues to grow should be
repugnant to all of us -- what a waste of our tax dollars.
Why? A government should honor its obligations.
In any case, large amounts of the debt are held by other countries,
especially China. We cannot legally renege on our obligations to
them. They would stop lending and then where would we be?!?
The only honest, legal way to accomplish this is to raise taxes. That
should be done, in my opinion, starting with a huge increase on
people who make over $200,000 per year, and a $2 per gallon tax on
gasoline. The price of gasoline should never again fall to less than
$4 per gallon. Consumers and auto manufacturers should know that the
era of the obsolete gas guzzling SUV is permanently over.
- Jed
