Saturday, February 6, 2010

US national debt

Last week in church I spoke about getting out of debt, and shared some statistics which shocked a lot of people. Here is some info on what we as Americans owe-
-Each of us now owes about $40,000, much to enemies of America, which is $160,000 for a family of 4.
-2010 government spending is now 40% borrowed- from the future and our children. This is equal to a family making $60,000 a year, and spending $100,000 every year, while also having huge debts to pay out of the 60K. Clearly this can't go on very long, but our irresponsible government is doing exactly that.
-The national debt of about $12 trillion is hard for anyone to comprehend. Imagine it this way- George Clooney just hosted a relief effort which raised 66 million for Haiti, a lot of money. If this was applied to the debt every day, it would take this amount of money every day for 156 years to pay off the debt!

Unless we demand a balanced budget and the reduction of the deficit and debt, it will destroy our country's economy in 20 years. We (if we are young) and our children will have a standard of living much lower than what we have now. Our economy will probably collapse.

The saddest thing is that the destruction of our country is being done by us to ourselves.

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