Our government is the worst when it comes to debt. Currently WE owe over $9
Trillion dollars and we will go over $13 Trillion dollars soon!
As of May 2, 2008 we were exactly $9,347,475,456,216.89 in debt. The national
debt is mostly interest payments. Just like a credit card we keep owing and owing and never paying
down the original principle.
That means YOU, I our Children, our GRANDCHILDREN and our GREAT
GRANDCHILDREN, ect. currently owe over $90,000 each for our current national
debt as of May 2, 2008.
Where did all that money go?
Let's start with who raised the deficit. For starters since the 1970's it seems that
our representative's locally and nationally started to figure out that if they voted
to bring more money into their districts they had a better chance of staying in
power.
Technically I don't have any problems with that because the money was usually
put to good use and created job growth and development.
The problem started in the 1980's when corporations started paying lobbyist to
get laws passed to help them either get contracts, pay lower taxes or acquire tax
subsidies. (in other words free money)
This has broken the backs of the American economy. If a business has a
legitimate business plan and banks are willing to loan them money, investors are
willing to invest their money. Why do they need government subsidies?
They need subsidies because that the only way most of them stay in business.
Not all but most!
Let's take a look at Presidential contribution to the national debt.
- Ronald Regan - borrowed $300 billion from social security trust fund
- George Bush I - placed a $300 billion dollar IOU to social security trust fund.
- Bill Clinton - placed another $300 billion dollar IOU to social security trust fund.
- George W Bush - borrowed $300 billion from social security trust fund and raised the national debt limit to $800 billion dollars.
Three out of four presidents were republican. So why does the press always
report that Democrats are blowing our money and raising our taxes?
City Files For Bankruptcy
Vallejo, California - city files for bankruptcy. Almost every city and state in the US
is in major financial trouble. We do have an emergency fall back for states and
cities. They have to balance their budgets each year by law. So they will either
increase taxes (not a good thing)they will either cut programs (not a good
thing)or they will cut subsidies to corporations (they will never do that)So they
will most likely cut programs to the bone like they have in my area of Milwaukee,
Wisconsin or they will file for bankruptcy.
This goes back to my state about how the corporations plan to make us all
massive consumers. They didn't realize that they were going to sow a seed in
every man, woman and child in America.
Our community leaders, church leaders, school teachers, national leaders, etc.,
etc., would have can't have enough attitude of about money and material objects.
My advice to you and I'm speaking from personal experience, start your financial
life over and forget about what people may think. |