Monday, March 23, 2009

The Crushing Federal Debt

The crushing federal debt. It just keeps coming and coming. We as a nation now have a $11 trillion national debt. In other words our government has spent $11 trillion dollars more than it has taken in. $11 trillion dollars is an incredible number. The great question in Washington which finally some politicians are waking up to is - how is this going to be paid back and by whom? There is not a great deal of economic logic in any of the stimulus or bailout packages which were passed. These packages have all added to the national debt and done little if anything to actually create economic stimulus. Again who is going to pay for this debt in the future? And at what cost? What is the actual value of our dollar relative to this debt?
In my economic opinion these bills must be stopped or this current administration will truly bankrupt our economy. Enough is enough of this economic debacle they have created. Let the free market system clean itself rather than be further soiled by economically illiterate politicians.

No comments: