It’s Tax Day tomorrow. Waiting till the last moment to file because you’ll have to write a check?
It hurts, but you must be financially better off than the federal government, which itself owes $17.5 trillion, all because Congress and the President refuse to balance budgets.
In the last ten years, according to a convenient Department of Treasury website, the federal government’s debt has not merely doubled, it has ballooned
by more than $10 trillion.
During the Reagan Administration, we were aghast at the idea of a “mere” one trillion dollar debt. I remember “No Trillion Dollar Debt” signs.
Waving signs didn’t help.
But something’s gotta give. As J. D. Tuccille writes, “you have to think that it’s going to occur to people that the United States government seems neither willing nor able to stop borrowing, and to start paying the sum down, even a little bit.”
Debts must be repaid, with interest. That goes for the last decade’s additional ten trillion tonnage of “bricks” now hanging over our heads.
Writing your check to the government isn’t made any more pleasant by pondering how paltry your payment is compared to what’s needed to make a dent in the debt. Moreover, even amid constant talk about “cuts,” federal government spending continues to increase. Thus, getting out of debt is not about writing checks to government. It’s about government writing fewer and smaller checks.
This is Common Sense. I’m Paul Jacob.
4 replies on “The Ten Trillion Dollar Decade”
Ah, for the good old days when we were only thirteen or fourteen trillion dollars in debt.
Oh that’s right, that was only a couple of years ago.
Hey, Pablo, the story of the hour is armed though peaceful insurrection for liberty: http://www.naturalnews.com/044698_American_Revolution_Bundy_Ranch_Battle_of_Bunkerville.html. The ultimate prescription for runaway government (and debt). Hope you plan to polish some words in support for these agents of doom for the New World Order. 🙂
Yes, I sent my check on Friday. & it sickened me because I know that our present BIG & growing government is like the old Pac-Man game. It just keeps gobbling up the dollars & multiplying. I feel like the taxpayer is the enabler for government to keep spending.
You have a chance go change out some of the big spenders in the Fall. Remember the pain of these payments & vote these entrenched bureaucrats out.
The Federal Reserve is the real enabler. If you are a rational actor and save money then what has the Fed done for you? They have taken your CD rates to near zero in order to 1) save the runaway big banks from collapsing and 2) financed the US debt so cheaply that it takes the pressure off congress & white house to manage their spending.
Join Ron Paul and his quest to AUDIT THE FED and SHUT IT DOWN.