During his time in office, Biden approved more than $4 trillion of new 10-year borrowing, debt-financing everything from COVID relief to infrastructure spending to student debt cancellation. It also added to an already high and rising national debt. So too will the cost of interest paid by taxpayers on the national debt, which already exceeds spending on Medicare or national defense. Most important, Biden should use the presidential bully pulpit to make the case for paying for new priorities, reducing our debt and securing federal trust funds. We need leaders to level with the American people about the challenges ahead — challenges Biden understands well.

Source: Los Angeles Times November 22, 2024 15:52 UTC