THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, November 16, 1994 TAG: 9411160003
SECTION: FRONT PAGE: A12 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 27 lines
Both parties have miserably failed the nation in avoiding straight talk on the monstrous national debt and budget deficits, a depressing expression of political timidity.
If we continue on the present course, all federal revenues by the year 2012 will be absorbed by interest on the debt and entitlements (Social Security, Medicare, etc.). This would mean complete collapse of governmental and societal institutions. In the face of this catastrophe, Republicans exult in prospects of huge tax decreases and defense increases while Democrats propose expansion of social programs. This is madness!
The problem can be managed if we are willing to accept less federal largesse and a modest increase in taxes as proposed by the Concord Coalition. Can we dare do less for our children and grandchildren?
JEROME P. CARR II
Portsmouth, Nov. 9, 1994 by CNB