Thursday, February 5, 2009

Trillion Dollar Spending = Dog Tails to me.

The spending bill being presented to the Senate is not just 800 billion; by the time interest is calculated over the next decade, it will be more along the lines of $ 1.2 trillion representing an unsustainable growth of government!

This expansion will include the bail out of state governments from their own budget deficits, expand Medicaid, boost education spending, food stamps and unemployment benefits, build more federal buildings, provide more for public housing, construct climate change super
computers (thanks Gore, just what we need), erect trade barriers overseas, create refundable tax credits and make special interest payouts. This will not stimulate sustainable economic growth; the current package is a mass of spending with a sliver of targeted tax cuts.

An alternative plan should call upon a plan for change, to once-and-for-all put the nation's fiscal house in order, provide permanent tax relief for businesses and individuals, free A
mericans from the boom-bust economic cycle and to put the national debt to bed forever.

Did you know our current national debt is $10.7 trillion; this includes $4.3 trillion owed for SS, Medicare and other commitments, $6.4 trillion held privately, $3 trillion of which is held overseas and, (a big and), 40% of that privately held debt is due this year? The only way for government to pay that current debt, is to borrow more money. So, the U.S. is risking defaulting on it's financial obligatio
ns especially since the nation's creditors during this current economic downturn, may not be able to sustain the uncontrolled growth of spending, leaving the U.S. in financial ruin.

So now what? More dog butts for me.

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