10/13/09

National Debt

The attached is really scary. The government seems to be trying to do so many things at one time that there is little closure on anything. The tendency to spend like crazy is really setting the next generation (as well as our own,) up for major problems. Thoughts??

3 comments:

  1. There is an illusion of absolute power pervading Washington these days. "We can do whatever we want, voters be damned. All we have to do is print more money." I have no doubt they will drive America into the ground in the short term. Election Day, I'm hoping, will put these idiots out of a job.

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  2. The entire country is chest deep in debt - the Feds, state governments, local governments, and most of the population. It will take a generation or two to get out of all this debt. And to pay for it government at all levels is going to have to raise taxes. And that, believe it or not, will be a positive thing in the end. That's the only way we will get back to budget surpluses. Individuals are so scared of all the debt they are carrying that they will be in saving mode for some time.

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  3. It is amazing how easy it is for us to buy in to the idea that the only solution is to raise taxes - How about the unusual concept of cutting spending.

    Our elected officials proudly point out that half of the cost of Obamacare will be paid for through reductions in Waste & Fraud in Medicare & Medicaid - the fact that there is $500 Billion in Waste & Fraud to be cut should not be a source of pride, it should be a cause for a lot of people to lose their jobs and some to be prosecuted.

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