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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (91948)10/1/2010 9:48:00 AM
From: JakeStraw5 Recommendations   of 224720
 
Friday marks the start of a new fiscal year for the federal government and provides an opportunity to assess the fiscal health of our nation. The diagnosis is grim.

The federal government now spends $7 million a minute. Our national debt is more than $13 trillion, which means every man, woman and child owes $42,000 to foreign governments and other debt holders.

In the next two years, our debt will exceed the size of our economy. Within three years, the government will spend more than $1 billion a day just to pay the interest on our debt. The debt will double in 10 years.

Unprecedented fiscal recklessness is to blame.

What has all this spending done for Americans? Since the $800 billion stimulus package was passed in early 2009, we have lost nearly 3 million jobs and the unemployment rate has consistently hovered around 10%. And every business in America knows that where reckless spending is found, higher tax rates are sure to follow.
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