Why Are Deficits and the Public Debt So High
27 June 2017 | Pago Pago, American Samoa
This question can be answered at several levels and from several perspectives. The basic reason is simple.
The National debt has risen so high because the wealthy refuse to pay higher taxes and insist on loaning the nation the money to gain the interest payments and the eventual principal repayment. If you take nothing away from this note remember that.
On behalf of the rich oligarchy controlling our government, republicans have refused to enact the tax increases that our nation needs. Indeed the propaganda mantra is lower taxes and shrink government. Most all taxes, as it is, are paid by those in the upper income brackets and they want and push for cuts.
The lower taxes, smaller government push operates to increase the deficits and national debt because Democrats and some republicans have been successful until now in blocking safety net, entitlement and other expenditure cuts. That is the dynamic.
The size of the national debt and deficits reflects the degree to which republicans have blocked needed tax increases and delivered tax cuts instead and the degree to which the rich want to leach interest out of the public and get their money back.