I'm worried about my great grandchildren never mind grandchildren I don't have yet...
Let's not forget about 6 months into George W's 1st term we had 9/11...Wall Street closed...the Airline industry closed...and the trickle down was awful...then we had to punch back (Afghanistan), that costs money...
W gets a bad rap in my view...especially considering the facts in the graph to the left...
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and it's real important to remember that although Clinton achieved a balanced budget, the debt didn't go away...it still accumulated...just not as briskly...don't confuse the two
America’s national debt is a record-breaking $12 trillion, and expected to nearly double in the next ten years. Unsustainable borrowing has created the largest debt in history. It's time to focus our energy and resourses on fixing our own problems and not trying to solve the world's. All we get for our efforts and rising debt is resentment from foreign countries and higher and higher taxes. Charity starts at home!
There have been some awesome comments as of late...please keep them coming...it's good to talk things out...
With that said I’ll keep going…as I said previously the national debt currently stands at about $12 trillion, with much of that money owed to foreign nations and foreign investors. Our interest payments on that debt are enormous, estimated at $170 billion this year alone. Over the course of the next decade our payments are expected to quadruple, which will mean even more tax dollars flowing overseas. The largest foreign holders of US debt include countries with whom we have complex or even antagonistic relationships: China, Russia, Iran, Saudi Arabia, Venezuela, and Libya, among others. Continued deficit spending leaves Americans no choice but to pay a large portion of our taxes to foreign governments. Based on these FACTS, it looks like we’ll be funding the next cold war for our adversaries. It’s time to wake up and take action, we can’t continue to sit back and think these problems will resolve themselves.
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