Valid reasons for debt
In reference to the debt ceiling and how we got there: This information was taken from various sites on the Web. I cannot vouch for total correctness. But when you consider the past three to five years with all these expenditures that were not budgeted, yes, the U.S. has a debt problem.
Please note: I am not saying the U.S. should not have spent this money, only there are valid reasons to be this deep in the hole.
Pandemic: Decreased incoming revenue due to covid; an estimated 70 percent of households paid less income tax in 2021-2022. Free testing, vaccines, and injection sites. Ventilators, PPE, masks, etc. $? Huge hospital costs; total cost? Individual taxpayer payouts $2.3 trillion; total outlays were approximately $4.2 trillion. Paycheck Protection Program $800 billion.
Fifteen dollars/hour minimum wage effects: Estimated employer costs rise $54 billion over 10 years. Estimated federal employees affected 70,000.
Estimated federal contract employees affected 300,000. Estimated Arkansas employees affected 439,000. Employer increased cost besides wages, FICA, Workers Compensation, health insurance, pensions, perks (i.e., vacation days, etc.).
Employee costs—1.4 million estimated job losses over 10 years; workers who already make $15+ an hour would expect their pay to increase; more tech, fewer bodies.
Ukraine: Supporting the war with Russia—not budgeted, cost of ammunition enormous. Example: 1.5 million Howitzer cannons have been sent to Ukraine, as well as shells for them, which cost about $800 each. Sidewinder missiles cost $400,000 each.
Other armaments sent means this is enormous, plus training of Ukraine military,
EVELYN BROWN Little Rock