I Can’t Believe I’m Reading This

Ever read something and said, “I can’t believe what I am reading?”   Well that happened to me recently when I read THIS ARTICLE via FoxNews.

Here are some one-liners from this article:

  • The House of Representatives Thursday voted to raise the debt limit by $1.9 trillion. That vote raises the debt ceiling to $14.3 trillion, a new high for the amount of debt the U.S. has ever carried.
  • If Congress doesn’t hike the debt ceiling, the U.S. would be unable make good on Social Security and Medicare payments.
  • The debt ceiling increase is part of a broader bill that would impose so-called “PAYGO” rules on the House. In other words, the House would have to pay for all tax cuts or programs it creates so they are budget neutral.

Can you believe this is happening in America?   We are paying for outrageous and ridiculous spending as individuals and as a collective whole.   Let me put this into perspective …

  • Assuming there are 310 million Americans, this $14.3 trillion in debt is equal to $46,129 per man, woman, boy, and girl.
  • In the early-80s our national debt was not even $1 trillion
  • We are increasing our debt load while Americans are struggling the most – the burden to repay it will be borne by Americans – and the burden is becoming greater by the minute

I am not sure what I can do to address this mess, but I do know this fundamental fact:   INCOME – OUTGO must equal EXACTLY ZERO

Is that true for your household?   When my income decreases, it means that I must cut out expenses or I will go broke.   It is just that simple.

What on Earth is going on?!!!   As a collective nation, we are spending money like it is water.   It is time for us to “go green” and start conserving all of our dollars – government, businesses, non-profits, and indivudals – it ALL applies to us.

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5 Responses to “I Can’t Believe I’m Reading This”

  1. Justin February 16, 2010 at 5:53 pm #

    I totally agree, but what can we do to help those idiots in congress to get their act together?

  2. TV STINKS February 17, 2010 at 4:53 am #

    I don’t worry much about stuff I can’t control but THIS worries me because the debtor is slave to the lender. It has to come to a head sometime, right? The national debt should be the #1 campaign issue in the years to come!

  3. Terri McDonadl February 17, 2010 at 5:50 am #

    Congress has been living in a fantasy world. What they get paid and what their benefits are for having served as a representative is ludicrous! I don’t have as much problem with them being paid while they are in office, however the benefits that they receive that last a lifetime like health insurance and retirement are ridiculous. If their retirement was brought into a more realistic perspective this alone could save the tax payer millions and help to reduce the national debt.

  4. Oscar At Real Life Money Management March 3, 2010 at 8:06 pm #

    It was Will Rogers that said “The budget is a mythical beanbag. Congress votes mythical beans into it, and then tries to reach in and pull real beans out.” Two things need to happen to fix what congress is doing. First Americans need to get their personal finances in order and hold politicians accountable to do the same. Bureaucrats need to start being held accountable. Everything is totally out of control and nobody knows how to get it under control. Start voting for the politician that offers you the least.

  5. Debt Free Dude March 9, 2010 at 9:34 am #

    I think we need some type of Constitutional amendment that says they can’t spend more money than they have. It doesn’t appear that common sense prevails when it comes to government budgeting.

    What I think Congress fails to grasp is that the majority of the people who are likely to create jobs in this country really want the government to do as little as possible–provide the rules necessary for smooth commerce and then just leave everyone alone. When companies are unsure what congress is going to do next, they don’t hire employees.

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