NATIONAL DEBT

I've had a national debt clock in the upper right corner of this blog for many years.  It inexorably moves upward.  Fast and faster.  It hasn't slowed since the 1980s. No Congress has been willing to curb spending.  Taxes come in and spending goes out.   Raising taxes has actually reduced the amount that the government takes in because it slows the economy because people have less to spend.

Now we are embarked on a new tact.  Congress has passed a tax reform bill that will reduce the amount of taxes by percentage that the government will take in.  This will put extra money in most people's pockets and most of that will be spent.  Hopefully, some businesses will choose to locate in the U.S. instead of countries which before had better tax laws.  Let's keep a close watch on that debt calculator in the next year -  nothing will happen immediately, but it should slow by year's end.