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Archive for the ‘National Debt’ Category

The Sky Really Is Falling!

      Buck     December 3rd, 2007 - 10:34 am    
The national debt - the total accumulation of annual budget deficits - is up from $5.7 trillion when President Bush took office in January 2001 and it will top $10 trillion sometime right before or right after he leaves in January 2009.

-Tom Raum, Associated Press Writer

What’s that you say, Fred Thompson? If we elect a democrat in ‘08, we’ll all suffer the fate of… what we’re suffering right now under republican control?

Smart, Fred. Very smart.

Fred is right at one point. The democrats will take the blame for all of this mess. They always do. We’ll elect a dem in ‘08. He/she will come in, clean up this republican mess, all to extensive false republican ridicule, and another republican will be elected and will start the process all over again. Am I the only one that sees this pattern?

There’s one positive aspect to this story though. Republicans have finally found a way to put the kibosh on federal assistance programs they disagree with.

National debt grows $1 million a minute

WASHINGTON - Like a ticking time bomb, the national debt is an explosion waiting to happen. It’s expanding by about $1.4 billion a day - or nearly $1 million a minute.

What’s that mean to you?

It means almost $30,000 in debt for each man, woman, child and infant in the United States.
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So long as somebody is willing to keep loaning the U.S. government money, the debt is largely out of sight, out of mind.
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A major economic slowdown, as some economists suggest may be looming, could hasten the day of reckoning.
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It only gets worse.

Over the next 25 years, the number of Americans aged 65 and up is expected to almost double. The work population will shrink and more and more baby boomers will be drawing Social Security and Medicare benefits, putting new demands on the government’s resources.


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