You Owe $145,000. Pay Up!
All right, pay up! Now!! You owe $145,000. You and every other man, woman and child in America. And the amount is going up every day.
Our current debt and deficit adds up to $43 trillion. And your share is $145,000.
Our government’s nonstop borrowing could lead to financial disasters — plummeting home values, skyrocketing interest rates, and massive job losses. Government services — health care, law enforcement, you name it — would be jeopardized. Hey, it’s 1929 again!
David Walker, the U.S. Comptroller General, said “I believe the country faces a critical crossroad and that the decisions that are made — or not made — within the next 10 years or so will have a profound effect on the future of our country, our children and our grandchildren. The problem gets bigger every day, and the tidal wave gets closer every day.”
The trade deficit is the highest it’s ever been. This year Americans will spend $680 billion more on foreign goods than overseas buyers will spend on American goods. Too many Americans are deeply in debt and spending beyond their means. Too many people want tax cuts and increased government services.
As one economist said, “we’re living beyond our means and we have to get our act together.”
Now, if you really want to feel like you’re between a rock and a hard place, check out this cartoon. Which do you think is more effective, your yellow ribbon or the money you're sending to the Middle East? Fill 'er up!