Florida Banking August 2021

STRAIGHT TALK FROM THE PRESIDENT’S DESK

MY CONCERN FOR OUR GROWING NATIONAL DEBT

BY ALEJANDRO “ALEX” SANCHEZ, FBA PRESIDENT AND CHIEF EXECUTIVE OFFICER

"JUST 21 YEARS AGO, OUR NATIONAL DEBT STOOD AT $5 TRILLION. BY THE END OF THIS YEAR, IT WILL BE A WHOPPING $34 TRILLION."

W hen I sat down to think about the important issues I’d like to share with you, several came to mind. I am concerned about the lack of objectivity by the mainstream media. I am concerned about the fight for freedom that is happening right now in Cuba, under a socialist regime. I considered writing

this latest $4 trillion bill is that it will be paid for by borrowed monies. We are adding $4 trillion to our national debt. Yet President Joe Biden touts this as a great victory for America. If I could speak with him directly, I would say: “Mr. President, how are we going to repay this debt?”

about my heroes, the men and women who serve in the United States Armed Services. But the issue I’d like to write about is one that nobody in Washington, D.C. seems to care about anymore. Their words state they do, but their actions don’t. And I am holding both political parties responsible for the massive and drastic increase since the year 2000 of our nation’s national debt. It stands today at $29 trillion, and then we must add an additional $2 trillion pushed by President Joe Biden. As of July 16, the

No one cares. President Biden and his followers and supporters see this as a great victory, yet no one is asking the obvious: Will the national debt of $34 trillion weaken and harm the United States, the most powerful nation ever created? To put this in perspective, just 21 years ago, our national debt stood at $5 trillion. By the end of this year, it will be a whopping $34 trillion. Again, I hold both sides of the political aisle responsible for this pending disaster. Our nation deserves better. Our

Washington Post has reported that the President and Senate Majority Leader Chuck Schumer have reached an agreement on a $4 trillion so-called infrastructure bill. Our nation’s annual national budget is almost $4 trillion. Forget the merits of this latest bill, you may agree or disagree with all or parts of it. What irks me about

last four Presidents, and this includes Joe Biden, are leaving this country bankrupt. Their irresponsible actions will lead to a judgment day requiring drastic and very difficult choices required for the good and perhaps the survival of our great nation. But no one has this sense of urgency in Washington, and that concerns me.

6 — FLORIDA BANKING THE VOICE OF FLORIDA BANKING