Surely I am not alone in my concerns regarding the Dec. 6 letter “ Decades of debt” in which the writer appeared to defend President Obama’s fiscal policy.
If his objection was to the earlier use of the word “exponential,” I agree that this is incorrect. Exponents are tricky and must be used carefully. However, to imply that because the annual deficit is decreasing the accumulating debt is not “beyond all historical precedent” is also a misstatement.
Obama’s debt increase, projected to be $9 trillion ($1.125 trillion annually), much exceeds that of President George W. Bush at $5 trillion ($625 billion annually), or of President Reagan at $1.7 trillion ($125 billion annually) or of any other two-term president.
We must not lose sight of the astonishing increase in debt in absolute terms or attempt to obscure this in clever wordage. This chicken will one day come home to roost.