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A Crazy Idea to Pay Down the National Debt
I’ve been reading a lot about the national debt recently. The debt is not new, of course, and people have been debating the subject for years. Some argue that the debt is not a major problem because it’s not that big in relation to our national assets and revenues. Others, however, emphasize that if it’s not paid off, or at least reduced significantly, it will limit the nation’s ability to tackle other important tasks.
This issue has become even more pronounced in recent months as our government has taken on additional debt during this Coronavirus pandemic. To help ordinary citizens understand the overall size of the current national debt, some financial experts estimate that the debt means every single taxpayer in this country owes approximately $200,000 (see link below).
$200,000? Seriously? Are you kidding me? That’s a boatload of money. And that’s just for me. My wife owes the same amount. So does my daughter. So does every taxpayer on our street, in our community, in our county, in our state. You get the idea. What are we going to do?
Obviously, most of us cannot pay off our share. And no one seriously expects us to do so. But what if we were willing to pay off a little bit of it? That would help, right?
