Declining deficit

The budget deficit is at its lowest level in eight years because of the ongoing decline in interest rates.

An increase in rates would mean greater deficits that we can ill afford to finance as we hover over an unmanageable $18 trillion and growing cumulative deficit.

It seems logical that rates cannot rise until our revenues exceed our expenses.

Unfortunately, Congress and logic are mutually exclusive concepts.

This story was originally published October 19, 2015 at 8:00 PM with the headline "Declining deficit."