Greatest threat to democracy is debt

Both political parties point to the other as a threat to democracy. However, the greatest threat to democracy is the nation’s growing indebtedness. People much smarter than me keep warning that we are on an unsustainable path. The government cannot keep adding to the debt faster than the economy grows.

If there were another world war, the fight would start with a debt-to-GDP ratio comparable to what the nation had at the end of the Second World War.

Politicians get blamed, but they merely reflect what the American people want. And we demand ever more spending and low taxes. Entitlement spending must be put on a sustainable path. This can and should be done while protecting those most in need.

Economic history teaches that conditions change slowly, and then all at once. At some point those holding our debt will say, “Enough.” A level of economic pain could be reached that we welcome rule by a strongman. That is the real threat to democracy.

Mike Streb

Iowa City