George W. Bush and Congress started it. Now President Obama is making it worse. Everyone is to blame here. Our nation's proposed budget deficit is now over $1.8 TRILLION!!! Take another look..... that's $1,800,000,000,000 that we don't have! But we are going to spend it anyway. Most people can't even fathom what a trillion dollars looks like. It's so far fetched that people ignore it. It is documented that our brains have trouble comprehending the scope of something that large. A recent poll asked Americans how many millions are in a trillion , and only 21% of respondents got it correct!!! That means almost eighty percent of the people don't even know how much a trillion is! If you don't know then take it upon yourself to look it up. You need to understand this reality! Additionally, most people really don't understand how our government and its cash flow system works. The government takes OUR money, labels it as theirs, and then proceeds to spend (or waste) it. In this case they are spending 100% more than they are taking in.
Obama is proposing to spend about $3,500,000,000,000 next year (go back and take a good look at that number). The government is only projected to receive about half of that amount in tax revenue. Where do they get the rest? Well, they're going to borrow 50% of it. For older Americans this really doesn't matter that much, because my generation is the one that gets stuck with the bill.
Let's simplify this a bit..... a person makes $30,000 a year in take-home pay, they have total necessary expenses of $30,000 but during that year they spend $60,000. Where do they get the extra $30,000? Probably credit cards. So what happens the year after that? Not only do they have to spend $30,000 for food, rent/mortgage, gas, insurance etc. but they have added $3,600 in interest payments, because they borrowed $30K the previous year.
Wait?!? So now they have to spend $33,600 this year? But they only make $30,000! So to make it real for yourself just think of whatever your current salary is and think of spending 2x that amount this year. And then try to figure out how you're going to do the same the next year....
This, my friends, is exactly the scenario that George Bush, Barack Obama and Congress have put us in, except we're not dealing in thousands. We're not dealing in millions or billions either. We're dealing in trillions! And we have to pay it back with interest. Using some rough math at a 5% interest rate we'll owe $246,000,000 in interest PER DAY..... and that's just on this year's deficit. Where the heck are we going to get that money?
The answer is you and me...... yes, the government is simply going to take it from you and me in the form of taxes. Any promises of only raising taxes on the rich are going to be broken, because not even the rich can give the government $246,000,000 per day. This is what Americans voted for folks. If this explanation hasn't made this issue very clear for you then feel free to then email me at RealHonestThinking@gmail.com. You need to understand this. It's important that everyone understands the trouble we're in. It's time to do something about this. Write your congressman, write to the President and GET INVOLVED SOMEHOW! Oh, and if you weren't pissed already and still need a good visual of what a trillion dollars looks like go here.