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56 Trillion reasons to rethink how we spend $$$ in a Presidential election year
By Jeremy | October 7, 2008
The rescue package and other bailout efforts for Fannie Mae, Freddie Mac, AIG and the auto industry, escalating operating deficits, compounding interest and other factors are likely to boost the [National Debt of the USA] tab to $56 trillion or more by the end of this calendar year.
With numbers and trends like this, you might ask, “Who will bail out America?” The answer is, no one but us!
Since we’re going to have to save ourselves, recent events could hardly be called encouraging. It took an additional $100 billion in incentives — some would call them “sweeteners;” others might call them bribes — to get lawmakers to pass the rescue package. Regardless of what you call these incentives, ultimately the taxpayers will have to pick up the tab, with interest.
Topics: bailout, debt, economics, elections, national debt, politics | 1 Comment »
October 8th, 2008 at 11:56 am
Jeremy:
Who ask who will help us? God’s is willing to help, but that would require our nation to do a 2 Chronicles 7:14, which I don’t see in the works. God help us all. If we are not already praying we all should be. Time to get on our knees folks.