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America's Economic Disaster

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What do Americans really understand about the amount of debt we are now faced with?

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-I think most of us already know that Mr. Orszag!

Not Sustainable? Not Sustainable? What the heck does that mean really? Yeah, let's keep going forward, I mean spending. Let's continue to add to the debt of our nation and pile it on the shoulders of the American people. It seems that our Congressman on both sides of the aisle probably don't understand the number posted above any better than we do! The net effect of these policy, will do what for sure? Yeah, it is something that none of us can really effectively argue against? What is it? You probably guessed it. This borrowing will cost every American the freedom of spending their hard earned dollars where they see fit. It seems now that the government will decide that for us by adding debt at the rate of $3.9 billion dollars per day. During the great depression of the 1930's unemployment reached the twenty percent level. According to all estimates we will be near twelve per cent by the end of next year. More money being demanded by the government with fewer taxpayers to pay the bill, sounds plausible to some, I guess? I'm wondering about now if voters would have been asked, beforehand, if they would have voted for either George Bush or Barrack Obama, if they would have known it would ultimately cost each taxpayer in this country about $79,000.00 each, would they have pulled the lever for either candidate? I suspect that only those who felt like they would never have to pay-up would have voted for these two candidates. Most people that bring up these kinds of arguments are looked upon as uninformed or just old fashion in their thinking. But, one thing is for sure someone is going to have to pay the bill, and we all know who that will be. Our newly elected administration is borrowing and spending in a frantic pace this will most certainly have sudden and devastating impact on our currency and

 

Julie is an educator. She holds several degrees in Education. My passion is sailing. My husband and I sail our boat to the Bahamas and beyond. I am avid reader. My favor quote is by Albert Einstein. "The kind of problems we have today cannot be (more...)
 

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The solution is in the mindset by TomK on Sunday, Jul 26, 2009 at 1:46:44 PM