Friday, August 20, 2010

Throwing Our Money Down the Interest Toilet

If the federal government isn't reined in with regards to its spending habits, we will be in some serious trouble. The Congressional Budget Office recently released its 10-year budget baseline, and the summary is startling. Two facts that jump out at me are:

-The national debt per household which was $52,000 before the recession (2007), will rise to nearly $150,000 per household by 2020.

-By the year 2020, HALF of all income tax revenues will go to interest payments on the national debt. Not for fighter jets or schools or roads, just interest payments.

Our financial house is in complete disarray, and politicians are nearly all oblivious to that fact. Let's vote these charlatans who have bankrupted our future out of office!

If you want to see more sickening details, go here and here.

1 comment:

Malinda said...

That's depressing. Thanks. ;)