With the ever growing deficit, how can American's trust our government will ever pay off all of this debt. Just today, the White House quietly released today that the Presidents predicted 7 trillion dollar deficit is now predicted to be 9 trillion dollars over the next ten years. That means over the next ten years our government will be placing 30,000 dollars worth of debt into the pockets each of the 300,000,000 citizens. That is not a total, that is on top of the thousands each American already is on the hook for. Please, lets get some fiscal sanity back into our government.
Showing posts with label debt. Show all posts
Showing posts with label debt. Show all posts
Monday, August 24, 2009
7 Trillion...Better Make That 9 TRILLION DOLLAR Deficit
Posted by
One America
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6:01 PM
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Labels: debt, deficit, Trillion Dollars
Tuesday, July 14, 2009
Out of Control Spending...When Will We Learn?
For many Americans it is sickening to see the how fast the spending in this country is increasing. Under George W. Bush we saw spending grow much more than most fiscal conservatives would ever support. The Democrats were crying out about the out of control spending and now that they control both houses of Congress and the Presidency they now endorse an even greater increase in spending. I'm young but it is becoming more and more evident that I will never see this country out of debt again in my life. I pray that my kids and/or grand kids will see the United States as a debt free country again.
Here's what CBO predicts will happen if we continue current policies:
Next year, our debt will exceed 60 percent of our total economic output, or gross domestic product (GDP). We would not meet the standards Poland and Estonia needed to qualify for admission into the European Union.
In 2023, our debt will exceed 100 percent of GDP - the highest level since World War II ended.
By 2076, debt will be more than 6.5 times GDP. Put differently, with current policies, there's no chance that children born today will get much of their promised Social Security and Medicare benefits.
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