Our country is a huge, productive nation. Just imagine, if you can, everything that all of our people throughout the United States produce in a single year.
It’s tremendous!
It is defined as our “gross domestic product.”
But our federal government is spending so much more than even too-high taxes produce that the national debt is $13 trillion!
How much is that? It’s hard to visualize. But try this:
Our total national debt is 90 percent of our gross domestic product — everything that our people produce in the United States in a year!
Don’t you think we are spending too much and thus owe too much?
It’s getting worse.
President Barack Obama’s spending plans are going to increase our national debt close to $1.5 trillion in just the next year! That’s not all.
Just last year, paying only the interest on our national debt cost American taxpayers $383 billion!
So interest alone on our national debt costs nearly 11 percent of our total federal government outlays each year!
The national debt and interest costs would be a terrible burden in boom economic times. Unfortunately, we are in an economic crisis.
Do you believe our national leaders are being financially responsible in imposing taxes on you, increasing the national debt and imposing a bigger interest burden upon us all?