Debt is necessary in an emergency

Gazette readers have expressed concern over the size of our national deficit, most recently Lloyd Frei in an Aug. 20 letter: “If recession is over, use stimulus to pay down debt.” It's too early to declare victory.

It is good to be concerned about debt, whether it's your own or the government's (that's our money, too). But not all debt is equal. Maxing out your credit cards at the mall is foolish, while taking out an emergency loan when your roof caves in is essential. And it's always good to save money for a rainy day.

When President Bill Clinton left office, our annual national budget was running a surplus. President George W. Bush should have continued on that track, but over the next eight years, he and the Republicans maxed out our national credit cards by giving huge tax cuts, mainly to the rich, and spending on war. Then the rainy day arrived - severe recession - and our national roof caved in.

In normal times, we should be concerned about debt and deficits, but these have not been normal times. Our national roof is still leaking and will take time to rebuild.

Jay Portas

Cedar Rapids