Thursday, June 2, 2011

Even A $20 Trillion U.S. Debt Ceiling Won't Be Enough!

The current debt ceiling is $14.3 trillion but our government has already zoomed past it. But then the debt ceiling was always just a political creation, an illusion to convince the public our government is doing something about its out of control spending.

In the 200 years prior to President George W. Bush, the U.S. debt reached $5.7 trillion. While in office, Mr. Bush took it to $10.7 trillion, nearly equalling that spent by all 42 prior presidents combined. President Obama in his brief 21/2 years in office quickly took it to $14.35 trillion.

The Democrats and Republicans blame each other while both spend staggering and growing amounts of money on the military industrial complex, charging all of it to the U.S.'s credit card, as our nation sinks in red ink.

Both political parties are discussing "cuts" to the debt of a trillion dollars "in ten years." But the debt needs a trillion dollar cut this year, as it will easily hit $1.4 trillion or more. And those "cuts" as politicians mean them are simply a reduction in the rate of debt growth, nothing that will ever balance a budget.

Don't be fooled. If you are a U.S. citizen, you had better get involved before your government spends you and your savings into oblivion. Your voice matters. Please raise it loud enough so they can hear it in Washington and across the world, to hold your government accountable.


No comments: