"Yes Virginia, There is a Naional Debt."
And "No, Virginia, Santa Claus ain't gonna bring you a bag of money to erase the National Debt."
The size of the current national Debt is approximately $18,000,000,000,000
That's $54,544.54 for every man woman and child in America. That's $137,480 per family.
Mail yours in tomorrow.
There is a big, lighted sign in New York City that tabulates the debt as it accumulates.
It became too glaringly obvious and too much of an indictment and was covered up for two years.
Part of the problem was there weren't enough digits to display the immensity of the debt.
It has been redisplayed as above.
In the year 2000 the clock actually began to run backwards!
The debt was decreasing. Those evil "tax and spend Democrats". weren't living up to their bad press!
They were reducing the debt. God forbid!
Anyway all is back on track now.
It works so well that a Mar-A-Lago expense clock is being contemplated as well.
Obama had little luck in reducing the debt, though he would have liked to.
He inherited a devastated economy- the worst since the Great Depression.
Repairing this economy required economic stimuli.
That, Virginia, is exactly what the national debt is for.
In times of emergency, it is necessary to exceed the household budget.
Later it gets paid back so the possibility is intact for the next "rainy day".
It is not for building enough aircraft carriers you can drive to Japan across their decks.
It is not for subsidizing oil companies. (Yes they are subsidized, poor dears).
It is for emergencies.
We need to get our house in order and begin paying it down.
How to do this?
Close tax loopholes. Have a coherent tax-system where each pays their fair share.
Reduce and eventually eliminate corporate subsidies. Rationalize budget spending.
Rationalize and prioritize military spending.
Put Social Security, Medicare and Medicaid on sound financial footing (I didn't say reduce).
It will take one of these to buy a Coke.
Can't happen here?
Happened in Germany in 1923. Took a wheelbarrow of money to buy a loaf of bread.
Return to Home.