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Debt: 'Owing the World'

January 31, 1988

The excellent Times editorial "Owing the World" (Jan. 25) presents the unpleasant facts about our national debt and the stark consequences to our national security. We have government policies and priorities that have for too long ignored the realities of the nuclear age and the fact that we can't keep on indefinitely spending more than we make.

The deficits of the last seven years have more than doubled our national debt; a large part of those deficits result from enormous increases in defense spending--all done in the name of national security. The major concern voiced in the editorial is that much of our debt is owed to foreigners and our debt payments are helping to finance foreign takeovers of American companies.

One can't help but be struck by the irony. In the quest for national security, we've taken the actions that are undermining Americans' control of America.

Clearly, there is more to security than just weapons. We need to evaluate our security needs. And then be willing to pay now. Acknowledging this reality may be painful, to ignore it may be catastrophic.

JACK OVERALL

La Canada

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