Putting our heads in the sand and avoiding the truth about the U.S. debt is not a party-line issue. Both sides are afraid to change. Any talk of cutting entitlements will cost them the ability to buy your votes to keep their jobs. They are not concerned about the future of America – just their future as powerful politicians and promoting their agenda.
Presently, our national debt is $14.6 trillion and counting – that is $46,900 per person in this country and $130,800 per taxpayer (source www.usdebtclock.org). If we do not start reducing the size and expenses of government, we will never get close to paying this off. Raising taxes will not increase revenue. Revenue will increase when more Americans are working and fewer are receiving benefits from the government.
This is what then-Sen. Barack Obama said when he voted against raising the debt limit to $8.5 trillion 2006 during President Bush’s term:
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
Sen. Obama, truer words have never been spoken. Now its $14.6 trillion, and on this I agree with what he said in 2006.