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To: American Dream 246

If he is trying to bring America down to size and ruin the country he is right on track to do so. I just hope there is enough people in this country come November who understand the consequences of this much spending.


7 posted on 03/06/2010 12:31:40 PM PST by Parley Baer
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To: Parley Baer
The Republicans need to start explaining this in more relatable terms. Talking about trillion-dollar deficits isn't enough; the American people are already numb to the T-word.

At the current rate, it's hard to see how a $20 trillion national debt in 2020 wouldn't be an optimistic estimate, and wildly so. Servicing that debt at anything approaching historical interest rates (they're abnormally low now) will cost almost a trillion dollars a year - that's somewhere around 85% of 2009's income tax receipts, and well over a third of all federal revenues.

Someone needs to make it clear to the American people just what that means. Even if we completely dismantled the U.S. military and eliminated defense spending from the budget, that wouldn't be enough to offset the increase in interest payments. In fact, there is probably no way we will be able to borrow or tax enough to service the debt without drastically reducing discretionary spending. We aren't even talking about Social Security and Medicare yet, let alone ObamaCare.

In other words, we'll be Greece - insolvent. It's time for some Republicans to grow the cojones to tell the American people exactly how bad it is.
51 posted on 03/06/2010 2:36:18 PM PST by The Pack Knight (Duty, Honor, Country)
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To: Parley Baer

That of course is the question. Do enough people in the country even understand what is going on?


76 posted on 03/06/2010 6:49:31 PM PST by rodguy911 ( Sarah 2012!!! Home of the free because of the brave.)
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