Archive for the ‘National Debt’ Category
America the Banrupt
Our country is in big trouble. In June, the federal deficit, the amount of our annual overspending, topped the $1 trillion mark for the second straight year. We are teetering on the brink of bankruptcy and, at the urging of the Obama Administration, Congress continues to spend, spend, spend.
When Obama took over, the national debt was $10.6 trillion. Now it’s over $13 trillion. By the end of next year it will be closer to $16 trillion.
We have reached the danger zone, and while most American’s are concerned, they cannot begin to understand the depth of the hole we have dug for ourselves.
Read the rest of this entry »
The real State of the Union
The national debt, now stands at $12,300,000,000,000 and change, and it’s growing by the second. That’s about $40,000 for every American. More important, it represents $113,000 for each and every taxpayer.
The federal deficit in 2009, the amount we added to the nation’s credit card, was a record $1.4 trillion, which was our largest, as a share of our Gross Domestic Product, since the end of World War II. Read the rest of this entry »
The Marriage of China and the U.S. (Till Debt do us Part)
It’s like a bad marriage. The U.S. and China are tied to each other in more than a trillion ways. For the time being, both endure this partnership for the sake of their dependents and their own well-being.
The two countries will make nice today at the World Economic Summit in London. They will smile at each other through clenched teeth, but the dislike and distrust between the two are painfully obvious. They fool no one. Read the rest of this entry »
The most important document you’ll never read
Would you get in the car and drive down the street blindfolded? Would you ski down a hill with your eyes closed? Would you set off on a journey without knowing where your destination was located? Would you begin building a house without estimating the cost? Would you send your son or daughter off to the mall with a blank check?
That would be crazy.
This week, the president gave us his budget for the nation and few Americans plan to read it.
This is equally crazy. Read the rest of this entry »
Robbing the children
Kids are the stars of the holidays. We love buying them toys, games and the latest technological marvels.
During the holidays, our generosity to our children knows no bounds. But when the lights and tinsel are packed away, we allow their little pockets to be picked or we pick them ourselves.
“How can this be? I would never do such a thing!” you say.
Oh, no? You demand (or accept without protest) that the government provide more and more goodies out of a depleted public treasury.
Every government service or perk you demand runs up the debt on a credit card our children and grandchildren will be required to pay. Read the rest of this entry »
