Editorial: Trump needs to tackle debt issues first

More than immigration …

More than ISIS …

More than fair trade …

More than jobs and health care …

The greatest threat facing America today is the United States’ growing debt crisis.Yet it has received virtually no consideration at all from candidate Donald Trump and now President-elect Donald Trump.

Instead he’s done quite the opposite, talking more about a New Deal-ish national infrastructure plan without mentioning how it would be funded.

We’ve seen this before with new chief executives.

Justin Haskins of the The Heartland Institute points out that when Barack Obama was running for president in 2008, he called the growing national debt, which had ballooned to $9 trillion under President George W. Bush, “unpatriotic” and “irresponsible.” Since becoming president, the national debt has exploded, now sitting at close to $20 trillion, which means by the time Obama’s presidency ends about as much debt will have been added under his watch as was added under all other previous presidents combined.

Even more disturbing, Haskins notes, is that trillions of dollars are owed to foreign governments, many of which have leaders that have spoken against the United States and impose policies that deprive people of personal freedom, dignity and respect. America owes $1.24 trillion to China alone, and Chinese leaders have continuously used their nation’s position as one of the United States’ most important debt-holders as a bargaining chip in international economic agreements.

The problem is Americans have been hearing about the U.S. national debt crisis for so long it no longer feels to many like a “crisis” at all. One of the few politicians who gets it is U.S. Rep. Jim Jordan. He’s preached its dangers from the first day he took office.

If Donald Trump truly wants to make America great again he’ll do likewise.

Should investors ever decide America’s dollars are too risky to put their faith in, the house of cards that has been built by decades of poor fiscal management will come crashing down. Those middle-income voters who handed Trump the presidency will be the ones who suffer the most.

If the United States doesn’t bring its spending problems under control in the near future — something that cannot occur without leadership from the nation’s next president — we could face an economic crisis unlike anything we’ve seen in our history.

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