We do indeed take in enough to make debt payments.
But we’re not taking in enough to pay Social Security AND Medicare AND military pay AND farm subsidies AND disaster relief ... AND ... AND ...
It’s all the AND payments that cause the problems.
I don’t like federal borrowing even a little bit. I’ve got to balance my checkbook and the feds should too. And in my humble opinion there is no reason to run a deficit in peacetime. None.
But run them we no. Some drastic budgeting is needed but the Washington Incompetence Corps simply isn’t up to the job. We need to fire every damn one of those crooked jerks and get somebody in there who has a spine and knows which end of a pencil to use while drawing up a budget.
I doubt the military who serve in the middle east think we are living in "peacetime." And considering the budget to continue our war on terror, this country is not at peace.