According to the U.S. Dept. of Treasury, the current national debt is north of $22 trillion. It seems that Democrats in MN are determined to do everything they can to catch up. In addition to his plan to raise taxes by $4.7 billion, Gov. Walz proposes to increase state debt by $1.3 billion. If that happens, it will increase the state’s taxpayer-backed debt by 10% in just one year. Already, the state’s debt works out to a burden of about $9,150 per person. But why not pile on more? We have reached the point in the fiscal policy debate where Leftists simply do not care where the money might come from to fund their endless wish list of programs. Why should they? They believe economic strength and long-term growth comes from government. They are wrong. Prosperity comes from free people using their skill, imagination, creativity and ingenuity to create something out of nothing; to devise and perfect products and services that people want and need. That does not come by transferring more wealth to the state. Taxes make you poorer and taxpayer-backed government debt makes you poorer longer.
