Zycher on Debt: ‘Voodoo Economics’

Re “It’s Not a Good Idea to Pay Off the Federal Debt,” Commentary, Oct. 6: Benjamin Zycher is correct when he says that the national debt should be used for federal investments, but after that he completely falls apart. He implies that those federal investments should never be paid off by reducing the debt. If it is not paid down, then where will the money be to create further federal investments? And doesn’t it seem logical that at some time the investments should be paid for? Also, he is wrong about the cause of our huge debt. The Reagan-Bush administration accumulated this huge debt by slashing taxes without lowering expenses--no fiscal responsibility there.

I do not believe that our national debt should be eliminated completely; however, it just makes sense to lower it to a level where we can incur debt if and when needed.

J.D. KEITHAHN

San Juan Capistrano

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Zycher’s column is voodoo economics personified. Does he really think that the American public is so gullible as to believe that the $8-trillion national debt represents only spending that “mainly” benefits “future taxpayers”? In FY 1999, the American taxpayer paid $229 billion in interest. This amount represents more than 13% of the budget. Why, when we have the chance, isn’t he eager to truly reduce the tax burden on Americans? Why is he so eager for taxpayers to continue paying 13%-plus of the budget in interest payments and to saddle our children and grandchildren with our debt?

JOHN McDONALD

Oceanside

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Zycher forgets that the present taxpayers accumulated the debt. Not paying off the debt they created and benefited from would be a great moral injustice, making future generations pay for the mistakes caused by the supply-siders such as himself.

JACK SEIDMAN

Long Beach