The figures we are about to give you will be “out of date” before we can print them and before you can read them.
They are figures concerning our U.S. national debt- that “all of us” as citizens and taxpayers owe.
But why would we print national debt figures that admittedly will be out of date?
The reason is that our national debt is growing by the second! We just can’t keep up with it.
Our U.S. government is collecting high taxes from us – but it is spending much, much more than our total tax collections.
The federal spending this year will be about $3.6 trillion!
Written out fully with all of the necessary zeros, that’s $3,600,000,000,000!
That spending will exceed our high tax collections about $1.5 trillion. (Remember, the figures are changing constantly, going up.)
While “all of us” owe the national debt, how much would that work out for “you”?
Each of us owes about $42,500 of the national debt – with the figure growing, second by second.
What would happen to us personally if we had to pay our share – now? You know! It would be impossible for each of us to pay “our share.” Most of us would “go broke.”
Well, since we can’t pay what each of us owes as a share of our national debt, why doesn’t the federal government “go broke”?
It’s because the government can pass the debt on to our children, our grandchildren and later generations.
Is that something we want to “do to our children,” etc.?
We certainly don’t want higher taxes. We’d like to have tax cuts. But our national government is spending too much.
The people we elect to be presidents, a majority of our 100 senators and a majority of our 435 members of the U.S. House of Representatives are doing the taxing and spending and adding to our debt.
Is that what we want?