Spending
The Democrat-controlled Congress passed a 1.1 trillion dollar spending bill over the weekend with great fanfare. Democrats also want to increase the debt limit from $12.1 trillion to $14 trillion. These two facts mean one thing. More and more out of control spending.
Please consider the following facts. The U.S. census estimates the average family in 2008 contained 3.2 members and the median household income was $52,175. WWW.USdebtclock.org estimates the federal debt is $39,339 per man, woman and child in the United States today. That means the average household is responsible for $125,884 of our current debt. The debt dial is spinning faster than the speedometer on a 16 year old's car.
For every trillion dollars of debt, the U.S. will spend approximately $1 billion in interest a week to service the debt. These numbers are staggering and incomprehensible. We would all be bankrupt and living under a bridge if we handled our personal finances the way the federal government handles it's budget. As responsible citizens, if our house has a leaky roof we fix it. We don't go on vacation and leave the problem for our children, grandchildren and great-grandchildren. This is exactly what Mike Doyle, Nancy Pelosi, Harry Reid and President Obama are asking us to do. Spending has to be controlled and our economy has to start to grow again - because, believe me, it is easier to grow out of debt than it is to tax out of debt.
Mike Doyle and the rest of the liberal Democrats believe taxes can be raised for all sorts of pet projects. They will tell you they will get money from the rich and greedy corporations. Corporations may remit the tax payment but the consumer is the ultimate source for any corporate tax. One way or the other the only place for the Democrats to get more money for their irresponsible spending is to confiscate it from our wallets.
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