Back in 2010, then Chairman of the Joint Chiefs of Staff, Admiral Michael Mullen, said that “the most significant threat to our national security is our debt.” At the time, our national debt was “only” $14.3 trillion. Today, it is more than double that. Debt service ― payment of interest on the debt ― is expected to cost Americans $1 trillion annually. That amount is larger than our annual outlays for defense. California has its own debt crisis but, unlike the federal government, it cannot print money. Instead, California reacts to high levels of government debt by spending more money,...
Today, the Howard Jarvis Taxpayers Association has grown with the support of more than a quarter-million taxpayers! Learn about our mission and how continue to protect taxpayers' rights!
Enough bonds already!
May 3, 2024
Back in 2010, then Chairman of the Joint Chiefs of Staff, Admiral Michael Mullen, said that “the most significant threat to our national security is our debt.” At the time, our national debt was “only” $14.3 trillion. Today, it is more than double that. Debt service ― payment of interest on the debt ― is expected to cost Americans $1 trillion annually. That amount is larger than our annual outlays for defense. California has its own debt crisis but, unlike the federal government, it cannot print money. Instead, California reacts to high levels of government debt by spending more money,...