It seems as if it was destined for me to have come across this particular article. The article is titled Taking the National Debt Seriously, and it was posted on the Power Line blog on 10/13/09. Here is a link to the editorial. It urges citizens to become aware of our national debt and the repercussions possibly stemming from it.
The author who simply goes by John, urges the public to become aware of our national debt and the interest created from it. He feels that we need to stop adding to that debt, since it will cause us to eventually default or create hyperinflation. The interest off our national debt for the year is $383 billion alone; While the Government revenue from individual income taxes is only $904 billion. Meaning the cost of interest on the debt represented more than 40 cents of every dollar that came in from individual income taxes created.
Still with all that, the Government still wants to create more social programs that we can't afford. It's what I've been thinking about all along about these social reform programs and stimulus packages. The Cost is too high for the country as a whole and is only such a petty and short lived benefit for each person. What's $600 really going to do for each person to change their economic situation? In turn $787 billion added to our national debt is a huge cost to pay. Within the last year the trade deficit has almost tripled going from around $500 billion to $1.4 trillion.
It almost seems as if this is being done intentionally by someone or a joint group to wipe out the average American citizens power so then they can gain control of the whole country much easier. Bottom line is people need to realize this and start saying no to these immediate, futile benefits which in the long run will only hurt everyone much more than any good they ever did.
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