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Does the National Debt scare you?

post #1 of 4
12/14/09 at 10:42am
Thread Starter 
According the National Debt Clock, the country's debt has gone up 2,000,000,000,000 in the last year alone to reach an unbelievable amount of 12,000,000,000,000. (estimate). It would take every American citizen paying in close to 140,000 at this point to wipe it out.

I'm just amazed and in shock over these numbers. Chad and I were joking last night that if each American household turned in all the loose pennies in their house, we could probably take a good chunk out of it ... Not so sure about that now. And if they did, then what? Within a year it wouldn't matter because we'd be right back in the same place.
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post #2 of 4
12/14/09 at 10:55am

Re: Does the National Debt scare you?

I didn't like the bank bail out, but a lot of the banks paid back the money and more are joining in all the time. I just hope this all works and the economy gets back on track. I think they could save a lot of money by doing a massive government audit. They need to hold all these government agencies to a higher standard of accountability. If things go well, it will all work itself out.

However, those who are only paying 6% federal taxes because they can afford all the tax shelters in the world, well, they are just going to have to pony up. It's not fair someone who makes $30,000 a year has to pay something like 32% federal income tax and another person who makes $500,000 with tons of tax shelters only pays 6%.
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post #3 of 4
12/14/09 at 10:58pm

Re: Does the National Debt scare you?

Honestly, I try not to think about it. The numbers just keep climbing no matter who does what. Why? Because the government is never held accountable for their actions.
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post #4 of 4
12/15/09 at 2:19am

Re: Does the National Debt scare you?

Exactly! Like the VA spent $24 million on computer upgrades that never happened! We find out that high officials in the VA were getting Club Med and Vegas vacations all on the government dime. Then there was the other jerk who spent $32,000 flying his mistress first class back and forth to see him. They really need to clean house at the highest levels at the VA. I imagine this is not the only government agency to have this problem.
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