Friday, March 26, 2010

What does the Obama debt mean to your household?

The Congressional Budget Office released a revised report on Thursday projecting new budget deficits of $9.75 trillion over the next ten years.  $9,750,000,000,000.00!  (Link to story here.)

This $9.75 trillion will be added to the national debt, of course, and the CBO projects that by 2020, the federal government's debt total will be $20.3 trillion.  $20,300,000,000,000.00!

Again, a trillion dollars is a lot of money.  This many trillions of dollars are so far beyond human comprehension that these deficits risk being ignored as incomprehensible.  But the story linked above breaks the debt story down to meaningful terms:

When Barack Obama took office in 2009, the debt was $6.3 trillion or $56,000.00 per American household.

Today, the debt is $8.2 trillion or $72,000.00 per household.

By 2020, if something doesn't change - fast, the $20.3 trillion debt will divide to more than $170,000.00 per household!

In other words, on Obama's watch, the federal government has already saddled you and your family with $16,000.00 more in debt.  And if he and his liberal Democrat friends are allowed to spend what they plan to spend, your family will be borrowing another $98,000.00 or more for D.C. to spend in the next ten years.

This spending is not sustainable.  That's simply put but it is reality.  We can't do this.

The spending must be stopped.  The spenders must be stopped.

2010 is your next chance - maybe the last chance.  After seeing what happened in the healthcare "reform" battle, realize this, a vote for a Democrat, any Democrat, in 2010 is a vote for unbelievable and out-of-control spending of money that doesn't exist and will have to either be printed (with resulting massive inflation) or confiscated from you in the form of crippling taxation.  

No comments: