WHEN WILL OUR POLITICIANS DEAL WITH THE BIG RED ELEPHANT IN THE ROOM (OUR OUT-OF-CONTROL NATIONAL DEBT)
As the 2016 presidential election moves into top gear each party is vying to win over their respective constituents with promises and grand overtures ranging from eliminating student loan payments to expanding our already burgeoning military spending. The problem with these out-of-control promises and misaligned fiscal priorities is that the government is spending ever more than it collects in tax revenues resulting in a large and growing deficit. In FY2014 for e.g., the federal government spent over $3.5 Trillion while collecting only $3.0 Trillion in revenues. The net result is a $500 Billion deficit, causing the National Debt to balloon upwards.
Black Economic Empowerment is still the primary concern…but is a long way off
As the U.S. concludes yet another enthralling celebration of Black History month while also guardedly celebrate the large black primary electorate in South Carolina exercise their hard-fought political victories, we’re once again confronted with the ugly spectacle of Blacks in America and their struggles for political and civil equality. However as pointed as these discussions are (even in 21st century America) the issue of economic equality continues to get less attention.
KeithThompsonEconomist.com 