U.S. Debt: Who Will Now Pay It Back?

Re “New Deficits to Force Boost of Debt Ceiling,” Jan. 3: As predicted by many, President Bush has brought us into another federal deficit. Treasury Secretary Paul H. O’Neill is diplomatic in blaming the situation on the recession and the Sept. 11 terrorism attacks. Those excuses are only examples of the possibilities envisioned when the majority of Americans opposed Bush’s tax cuts.

Republicans will say that this year’s extra expenses were unforeseeable and that they are not to blame. But I would tell them, based on my personal budgeting experience, that surprise expenses always come up shortly after you’ve blown your savings on something else.

When Bush made the tax cuts, he did so by convincing people that it was our money in the first place; he told us it was not the government’s. Now that we’re again in debt, whose money is it that will pay back the monthly principal and interest expenses?

Howard Schlossberg

Woodland Hills

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Thank you, President Bush. For the first time in nearly 14 years I have seen an increase in my pension check. It was a result of your tax overhaul plan and the resulting reduction in the federal withholding. I remember when the Democrats in Congress shouted that this tax plan would only benefit the wealthy. Well, they were wrong, just as they were wrong to stop the economic stimulus plan.

Young people frequently ask, “What is the difference between Republicans and Democrats?” Senate Majority Leader Tom Daschle (D-S.D.) has answered that. The Republicans want to stimulate the creation of new jobs in small companies while the Democrats just want to increase welfare payments. Wouldn’t most people rather have a job than a welfare check?

Jere Robings

Thousand Oaks