Obviously, there has to be a profound change in direction. Otherwise, interest on the national debt will start eating up virtually every penny that we have.
Sentiment: NEGATIVE
The debt limits have to come down. The whole world of debt has to be changed as far as this country is concerned. We have to create jobs and we have to create them rapidly because if we don't things are just going to head in a direction that's going to be almost impossible to recover from.
I can tell you if you look at the polls, Democrats, Republicans, Independents, they do not think we should increase the debt limit.
The biggest change we have to tackle that's out there is that we're digging the hole deeper and deeper and spending is totally out of control. And that's something that, quite frankly, is affecting future generations. You're giving a lot of debt to them and you can't keep doing it. It's not helping anybody.
What I'm concerned about is endless borrowing, which is going to compromise our economy not only today but in the future. Because we know the decisions we make right now really dramatically impact us in the future, and the debt is literally getting out of our control.
And the trajectory that our debt is taking now beyond $14 trillion is going to have an impact on our currency. It goes south, and our currency's going to have an impact on our standard of living and affect every family in this country, and over time, our international competitiveness.
It took the first 204 years of our Nation's history to accumulate $1 trillion in debt. And now we are doing that every 2 or 3 years.
I think at the end of the day we have to raise the debt ceiling, because America pays its bills.
I really truly worry that the debt is one of the single biggest threat to the United States of America, that we're talking about a problem that is multi-trillion in its depth and I think we ought to be cutting more.
And that's the one thing that people do not understand is that we have very low interest rates and if those go back to historical levels or even go back to scary thoughts that they're back in the late '70s, early '80s, then that's going to really be hard to actually pay off those debts. It's going to be a - it's going to be a very big problem.
There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth.