DEBT: Efficiency, where art thou?

By July 2015, the federal deficit will approach or exceed $18 trillion. If you assume that the current U.S. population is approximately 320 million people, then our national debt is approximately $56,250 per person, or $225,000 per family of four.

At the current interest rate of approximately 2 percent on a 30-year Federal Bond, the annual interest on the debt is $360 billion. If the interest rate increases to 3 percent, the annual interest on the debt would be $540 billion.

We have been led down this path by both political parties. It is time to cut waste, raise more revenue, and start paying down the national debt. We need some serious thoughts on how our nation can operate more efficiently.

I am reminded of a story told during a business seminar I attended some years ago: A new CEO was being escorted by one of his staff and introduced to all of his associates. He passed by office after office and observed that all of his associates were busy except for a man in one of the corner offices, who sat leaning back in his plush chair while staring out of his window. After several minutes watching the idle man, the CEO asked his escort if that is all the man had to do?

The escort smiled and responded, “This is the man who comes up with ways to increase our efficiency and create new products.” The CEO finished his tour and the next day he sent a maintenance man to clean the window of the corner office.

If Congress devotes all of its time to the day to day functions of the government without eliminating waste and laying out plans for our future, we are doomed to financial collapse and loss of our status as a pre-eminent world leader.

As a postscript to what has been written, the president just announced that he wants the government to pay for the first two years of college. Fine, but do it on a balanced budget.

LEONARD BRANT

Post Falls