I am a blue-dog Democrat, and this letter is about the financial situation in this country.

The best days of my economic life were under the Clinton administration. President Bill Clinton not only balanced the budget in his last two years, but also handed us surpluses. Moreover, Clinton advocated that the Bush administration take half of the surplus to shore up Social Security and Medicare, then use the balance to pay down the $5 trillion national debt. The Republican Party ignored his advice, instead refunding each American family $600, then promptly lowered the top tax rate from 39.6% to 35%.

Nine months later, 9/11 occurred, and George W. Bush started two wars. Instead of increasing taxes to fund those wars, the tax rate remained at 35%. FYI, before 2001, our country’s longest war was Vietnam, and for 15-plus years the top tax rate was 72%, and for World War II, it was over 90%. Why? To pay for those wars. (Nobody likes to pay taxes; I don’t, but it is necessary for the government to function.)

Thomas Jefferson said, “It is incumbent on every generation to pay its own debt as it goes. A principle which, if acted on, would save one-half the wars of the world.” President Dwight Eisenhower warned us about the “military-industrial complex” and feared for the downfall of this country.

Since Clinton left office, just 22 years ago, our national debt has grown from $5 trillion to $31.4 trillion today, and suddenly the Republican Party is now concerned about the debt ceiling. Today, one-half of the annual deficit is interest accruing since 2001.

Peter Greene
Buxton