Cutting Taxes, Increasing Debt
The Times had a front-page lead story (July 16), “Earlier Tax Cut Sought by Reagan,” which was continued in great detail on Page 17. By contrast, a two-inch, one-column news item on Page 16 reported, “Panel OKs U.S. Debt Limit of $2.323 Trillion.”
President Reagan’s determined push for tax reforms, a fancy title for another giveaway welfare program for special interests and the wealthy, is a pathetic joke and an insult to millions of Americans. His Administration asked the Congress and got an increase in the debt ceiling of $244 billion because it is broke.
Under the new reforms, the President will save about $24,000 in his own taxes. And the federal deficit, which has doubled in the past five years, keeps growing.
Following the Pied Piper in his drive for financial ruin are 535 elected members of Congress. Cowards all, and fools to boot. The Times should have given the $244 billion debt increase story front-page prominence. Why hide it on Page 16?
Wake up America! By 1988 the national debt will be at the $3-trillion level. Who will pay the piper?
JOSEPH L. WEISS
Los Angeles
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