 |
| AP – FILE - In this Dec. 16, 2010, file photo Treasury Secretary Timothy Geithner testifies on Capitol Hill … |
WASHINGTON – The United States just passed a dubious milestone: Government debt surged to an all-time high, more than $14 trillion.
That means Congress soon will have to lift the legal debt limit to give the nearly maxed-out government an even higher credit limit or dramatically cut spending to stay within the current cap. Either way, a fight is ahead on Capitol Hill, inflamed by the passions of tea party activists and deficit hawks.
Today's debt level represents a $45,300 tab for each and everyone in the country.
Well folks, this is it. We are in trouble financially. The answer is to spend more money.
Maybe someone can explain this to me, because I just don't get it. If you have 2 trillion dollars coming in, how long can you spend 4 trillion.
Mr. Geithner, please give us some new math that will get us out of this. I was taught that 2+2 always equals 4. Does the President have some type of Quantum Mechanics that relates to economics? Maybe we can raise taxes on the super rich. Maybe they wont all leave the United States and go to India or China. I am sure that some of the super rich people are really stupid and will not leave, but most will.
Come on Mr. Geihner, let us in on the secret plan to raise enough money to keep us from going bankrupt.
What do you think?
P. V. Street
No comments:
Post a Comment