Wednesday, January 14, 2009

Deficit of a trillion dollars a year as far as the eye can see

Our grandchildren and great-grandchildren will be paying off the debt we are incurring...

Our government now owes more money than all of us in the country put together possess. We now owe nearly $57 trillion while our net worth is $56.5 trillion.

President-elect Barack Obama has said that we can expect a trillion dollars in additional debt each year as far as the eye can see into the future. Soon Obama will ask Congress for an additional trillion dollars to bail out certain large companies.

Remember when they gave $350 billion to the banks? That money is gone and guess what? The banks cannot or will not tell us what they did with it.

Obama's plan, being promoted by Democrats and Republicans alike, is to pass out money, running up debt that our grandchildren will be forced to pay. Their solution is simple. Throw more money at the problem.

Where will the government get these trillions of dollars? They will go to the printing press and print more, which means that dollar in your pocket will be worth less.
It also means the government will borrow more. From whom? Try China and the rich oil producing countries. At the rate we are going, China will never have to fight us. They will own us.

Our leaders, if that is what you want to call them, are unwilling to call us to bite the bullet and pay the price for our irresponsible financial behavior. It is immoral to pass this debt on to our grandchildren.

The time to act is now, before it is too late. While it may be painful now, failure to act will be deadly in the future.

Take Action!

Send an e-mail to your representative and senators telling them not to support the trillion dollar bailout.
Please share this post with family and friends. If Congress fails to hear from their constituents they will probably vote for Obama's trillion dollar bailout.

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