Weekend Read: Debt is Strangling Long Island | Perry Gershon for Congress
Home | Menu | Sign Up | Donate

Weekend Read: Debt is Strangling Long Island

Turn on the news these days and no doubt you'll hear about concerns of an economic recession. The bubble set off by the Trump/Zeldin tax cuts shows signs of popping, and both Republicans and Democrats are racing to define the narrative.

Most of them are missing the point.

While the economy overall may have grown in the past decade, too many Americans have been left behind. When recession comes (it always does,) too many of our neighbors will suffer disproportionately.

One major concern is debt. Earlier this month, the Wall Street Journal noted the explosion in middle-class debt ("Families Go Deep in Debt to Stay in the Middle Class".) This article highlighted the raw deal middle-class Americans have been subjected to: rising costs and stalled wages. Many are turning to debt to provide their families the necessities: home, car, and health insurance.

There are worrying figures:

It's time to focus, not panic. We need to practice fiscal responsibility at every level of government – just like we do in our own homes – by reducing our national reliance on debt. We need to expand debt relief programs for students and encourage more to consider the impact before taking on loans. We need to ensure that in the next recession it will be Main Street, not Wall Street, that gets relief.

My opponent, Lee Zeldin, believes the current economy is great. He tweeted earlier this month that "great economic news just keeps rolling in." Where does he get his news? It's like he doesn't know what's affecting his own constituents.

This concerns me, and it should concern you too. We have an uneven playing field that is leaving the middle-class – the heart of Long Island – behind. We need our elected leaders to do better.


Posted on August 25, 2019.

For 25 years, I have been a common-sense businessman — not a career politician — so I look at things differently. I know about fixing dysfunction. It starts with hard work, a commitment to results, and perseverance — not scoring cheap political points. We can work together to provide opportunity and create an economy that works for all of us.

Learn More About

Perry Gershon

Meet Perry

Show your support:
Endorse Perry Gershon
for Congress