The US National Debt has increased by $198,438,256,931 since our last update on November 11, 2012. Another two months, and the United States has dropped another cool $198 billion in the hole.
National Debt as of 1/14/2013
That is an increase of $3.101 BILLION PER DAY since our last update 64 days ago.
Our debt continues to spiral out of control like a person who is on a crazed spending spree. That NEVER turns out well!
I continue to stand by the following statements.
Whether we choose to address this problem as a nation or not, we WILL have to deal with it. We are really being faced with one of two decisions:
- Face the problem now by making some really tough choices Like reducing some great programs or potentially eliminating some of them. NONE of us like to reduce spending. It is NO FUN. It STINKS. But we all have faced this in our personal finances before. Of course, we want to let our children participate in any activity they enjoy, but sometimes we have to say NO because of the costs! Of course, many people would love to have a huge house with every amenity known to mankind, but sometimes it is just not possible to carry the financial burden required to maintain it!
- Let the problem fester until we are FORCED to make the tough choices Whenever I personally have let the clock run out on tough financial decisions, I have found that my options have been severely reduced and the pain is much greater. I’ve always found myself saying, “I wish I had made this decision sooner.” (NOTE: This is where Greece, Ireland, Spain, and several other countries are at this point. Decisions are being made that they no longer have full control of)
I wonder which decision the American citizens will make.