Tuesday, May 3, 2011

Exponentially Expanding Debt Crisis

The Washington budget demagoguery was put on hold when Congress recessed. And now is taking a back seat to the capture and death of Osama bin Laden. Our Navy Seals are the finest in the world--the best investment tax payers make in my view--but we need to hold our elected official's feet to the mounting debt fire. The blaze is raging dangerously out of control.

An unprecedented U.S. budget and debt crisis looms. We cannot afford to look away for even a moment while the Congressional foxes are guarding the national treasury henhouse. The Heritage Foundation reminds us:

"Today’s national debt—the public debt that government has accumulated to finance its out-of-control spending—is approximately $14.3 trillion. To put that into perspective, the government’s annual budget for 2011, which is in itself bloated, is roughly $3.7 trillion. And to put the future health of our economy in perspective, President Obama proposed in his 2012 Budget proposal that we add $9 trillion to that debt over the next ten years."

The most accessible explanation of our mounting debt is available at the following URL. Cut and paste and watch the short video. It is well worth the trouble.


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