National Debt Road Trip

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Posted under Economy

Written by admin on September 18, 2009

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Deficit Danger

Obama Deficit

I believe this speaks for itself.

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Posted under Economy

Written by admin on August 31, 2009

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$3.6 Trillion Budget Approved

Brietbart reports that the House and Senate have passed $3.6 Trillion budget bills. These bills will have to be reconsiled, but the two bills appear to be very similar. Next  year alone, each of these bills will create $1.2 Trillion of debt.

Nancy Pelosi is quote as saying “we have come here to make a difference.” I suppose a record increase in debt could be considered a differece. Adding taxes on those who create jobs during a floundering economy is another difference. It seems that change for change’s sake trumps change for the betterment of the country with the current leadership. These budgets are a move towards more Government spending, more generational debt, and handcuffing job growth.

On a positive note, chairities can breathe a sigh of relief as the Senate denied the option of cutting tax breaks on donations to charity.

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Posted under Economy

Written by admin on April 3, 2009

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A Perspective on Debt

I came across this debt ticker over at Marvelous Medley:

Just look at that number…  $11 Trillion dollars and growing fast! A trillion is a large number, and a bit hard to wrap my head around, so I looked around for some comparisons. I came across this over at tysknews:

Trillion = 1,000,000,000,000. 
The country has not existed for a trillion seconds. 
Western civilization has not been around a trillion seconds. 
One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.

NPR gave this for comparison:

$1 Trillion would be enough money to buy about a 1,000 boxes of Girl Scout cookies for every person in the United States.

And here is a youtube video to give a bit more explaination:

Debt SurgeIt is hard to wrap one’s head around this number. Take the above, multiply it by 11. Now you have our current debt. Next year, we’ll be adding around $2 Trillion to that number. And we will continue to add Trillions to the debt every year until we get this out of control spending in check.

The United States GDP was just over $14 Trillion in 2008. Yes, our debt is nearly as much as our entire GDP! The interest payments on this debt is the third largest item on our budget at over $412 Billion. Now, throw in that the Federal Government alone is slated to spend over 27% of our GDP this year. Certainly someone other than me has to see the obsurdity in this.

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Posted under Economy

Written by admin on March 24, 2009

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