Posts Tagged ‘National Debt’

This math isn’t fuzzy, part II

June 22, 2010

A few days ago, we laid out some basic facts about the financial situation in America for our Federal Government here.

What makes this even more difficult to swallow is that although the population of the United States is more than 309 million, that number includes many children and older retirees – America has only 110 million taxpayers. This translates to a national debt per taxpayer of more than $118,000.

Remember, all of our elected representatives, Republican and Democrat, have spent this money and left you with the bill. I can personally verify that paying back money borrowed to enjoy something in the past with present dollars is not pleasant. I can testify to the pain of using currently earned dollars on old expenses.

There is no solution to the problem that is painless. Either we continue on the path of higher taxes, more spending, punishment of the producers, increased federal control of business, and excessive intervention into our daily lives, OR we make a conscious decision to make a change in our spending, saving, and personal responsibility for America’s financial situation.

Will some citizens complain about the lack of compassion because we have to reevaluate many of the entitlement programs? Absolutely. However, the reality is truly frightening. These are facts, not opinion. We are in a very deep hole as a nation. Though it feels good to spend money to do good things for people, the fact is our government can not continue to spend money it does not have because We the People can not afford to pay the bill.

Long-time incumbents like Rep. Jim Cooper, who first went to Congress in 1983 when the national debt was just $1.6 trillion have added literal trillions more in debts. The Congressional Budget Office says that the recent health care reform bill, which Rep. Cooper voted for, will add more than $1 trillion to the national debt over the next 10 years.

There are many other examples of massive overspending that are equally problematic and equally damaging to the American way of life. Business-as-usual politicians, addicted to being re-elected, have made millions of Americans dependent on federal programs for which we no longer have the money to support. There is no painless way out of this crisis but perhaps there is good to come from it down the road.

Perhaps by slashing funding for many of the federal programs we can encourage our citizens to look more to their state and local governments to address community needs. Perhaps our churches and community organizations will become more engaged with local needs. Perhaps our citizens will get out of their homes and engage their neighbors through service and participation in their local communities. Perhaps people will learn to be more self-reliant and more involved in helping their families, friends and neighbors.

This is not a dream-world. This is a very possible reality. We are going to have to make a choice very soon; either we chose a reality based on responsibility, entrepreneurship and capitalism, or we can go the way of European socialism. We have a clear picture in Greece, Russia, and other countries, of where that road leads.

Each of us has more than 42,000 reasons to vote for a real change. If you are ready to help us fight to turn America away from the coming fiscal catastrophe and head in the right direction, please join our campaign at http://www.hartlineforcongress.com.

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This math isn’t fuzzy

May 28, 2010

News that the national debt has now topped $13 trillion boggles the mind – and the calculator. I recently posted about the idea that numbers this massive can sometimes feel a little bit like “Monopoly Money” and be difficult to grasp. So, that begs the question; how much is $13 trillion?

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