Today, BBC Business announced the United States' record deficit of $1.4 trillion - almost three times that of last year. This is unacceptable. I understand that desperate times call for desperate measures and that government cannot always operate within its means. But more and more, it seems as though Washington is spending absurd amounts of money to insulate the wealthy and powerful from the effects of an ailing economy, and that is not right.
A huge portion of this year's deficit can be traced to Washington's crusade to protect corporate interests at the taxpayers' expense. Instead of investing in Main Street and retaining some sense of fiscal sanity, the federal government has provided unconditional safe haven for the wealthy political donors and Wall Street bankers who created this crisis in the first place. Since 1990, Goldman Sachs alone has contributed over $31 million to federal campaigns and has consequently become one of the Troubled Asset Relief Program's biggest benefactors, according to opensecrets.org.
Our fiscal irresponsibility is leading us to a point of no return. Soon, foreigners will no longer be willing to buy our debt, forcing the dollar into irreparable decline. We cannot afford this risk, and therefore, reducing the deficit should be among our top priorities. But first, we must end the corruption and corporate welfare policies that are at the root of our irresponsible spending habits.
Scott Trumbull\nCLAS IV
Read More
EDITORIAL: An eleventh-hour presidential appointment and a community left in the dark
By Editorial Board | YesterdayFurthermore, it is hard to ignore that the unanimous vote elevating Beardsley to the University’s top role was undertaken by a Board that is seemingly not legally constituted.
NERO: The University must modernize the Lawn room application process
By Emma Nero | 3 days agoStudents vying for a Lawn room are left with the options of not signing an off-Grounds lease on the gamble of being accepted, or putting their name on a lease and risking financial or legal repercussions for removing their name.
LETTER: An alumnus and parent’s perspective on U.Va.’s presidential search process
By Tom Neale | December 15, 2025The critiques of Mahoney and the Board of Visitors are egregious double standards that I believe are motivated by political differences with Mahoney and the Board.
