The debt was a big topic in the recently concluded RNC and it should continue to be so in the months to come. And this is rightfully so because the American people need to understand how important this is going to be. Mitt Romney did promise to move the country in the direction of a balanced budget in his RNC speech, which I was very impressed with.
There is now talk of another stimulus. Mitt Romney has promised not to raise taxes on the middle class, but I really think that higher taxes on the country's highest income earners is the best way to go about paying the debt off. Debt will always be an impediment to growth and the economic recovery taking place right now and it must be dealt with. This debt clock is a reminder by the Republicans of how much Obama has spent, but is it not true that Paul Ryan backed policies under President Bush that saw the deficit balloon by higher percentages.
The truth is that when we look closely at the GOP ticket's plans and the Obama administration's plans it pretty much tells the same story. But never be discouraged that the debt is out of control. This is simply not true and modest growth rates of around 2.5 percent should be sufficient to curtail the growing national debt.
There is a lot of spending that the Obama administration had to do and the recession reduced tax revenues which had a further impact on the budget deficit. Paul Ryan is a policy wonk known for talking about America's fiscal challenges and I want to see the debates as they progress to see what ideas the candidates can come up with.