Growing national debt could trigger collapse rivaling Depression

The Republican Congress, a majority of whom are multi-millionaires, rejoice with our multi-billionaire president at passage of the “tax reform” act which will augment their vast wealth considerably. Meanwhile, they audaciously trumpet it as the “The Middle Class Miracle,” though they hypocritically declined to grant the permanent rate reductions they reserve for themselves and corporations. Working families in 2027 will resume paying current rates. One rule for them, another for us.

Never mind that today’s $20 trillion national debt and $100 trillion of unfunded government liabilities will, in accordance with economic doctrines, rapidly accelerate. Add massive state and community debt and today’s $900,000-plus owed per taxpayer will become a sobering million-dollars owed per taxpayer within two years.

That stark reality should result in Americans finally taking public debt seriously. Since 1981, the trillion-dollar can has been kicked down the road for Future Generations to worry about. I submit when each taxpayer is behind the eight-ball by a million apiece is when we’ll realize the future has arrived.

The inevitable blizzard of government bankruptcies masterminded by our imperious plutocracy will rival the 1930s’ Depression for misery. Working families better begin preparing for the very worst.

Martin Crane New London