Reducing the fiscal tide of red ink must remain our top priority. The last time the United States was free of national debt was in 1835 when Andrew Jackson was President. Roemer noted that debt reduction benefits families in a variety of ways.
Debt reduction is tantamount to a tax cut because it reduces market pressure on interest rates.
And lower interest payments on things like a mortgage, car loan, or business purchase, will put more money in the pockets of American families. It also reduces the burden taxpayers must pay in interest payments on the national debt. Roemer offered two examples. Second, debt reduction also reduces the burden on future interest payments that must be made by the federal government. He continues to oppose wasteful federal spending such as the space station.