I feel that William Ahrens’ “Chicken Little” take on what he referred to as “runaway debt” (Aug. 8) needs to be put in perspective.First off, the national debt rose $6.7 trillion during just four years of the Trump administration, due in large part to massive tax cuts for the wealthy. Under George W. Bush, the debt rose $5.8 trillion, largely because of the costly war in Iraq. (The cost of that pointless war equaled $8,000 per taxpayer).
The U.S. has, so far, the largest economy in the world and our debt can be managed with an equitable tax structure that ensures that companies that avail themselves of the security and infrastructure afforded by the government pay their fair share.
The U.S. currently spends 2.4% of GDP on infrastructure; China spends 8%. If we are to compete economically with the rest of the world going forward, we need to make investments in infrastructure projects that will help promote long-term, stable economic growth and not just fickle short-term spikes in Wall Street investment portfolios that mostly benefit the richest 1% of society.
— Thomas Crowley
Anchorage
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