DEZ
The National Debt is $8.1 Trillion!
federalbudget.com
PRESS RELEASE: National Debt reaches $8 Trillion!!
19 October 2005; Navarre, FL - National Debt Awareness Center (NDAC)
The National Debt has reached $ 8,000,000,000,000 [ $ 8 Trillion ].
Interest rates are the lowest in many years, and the interest on the large National Debt is down because of that.
Meanwhile, social spending and defense spending are up.
The result is that National Debt interest payment is now the third largest item in the federal budget.
Even with the large increase in defense spending, social spending still is the largest item in the budget.
The federal budget for 2006 is the largest in history.
We were attacked and we are now at war.
The cost is high.
Nevertheless, the war (and defense in general) is not costing as much as the social spending in our budget.
Any solution to the massive debt problem will be complex.
One way to start is to get rid of the ridiculous, oppressive income tax and replace it with a National Sales Tax as defined by S.25 and HR25, known as the Fair Tax.
To find out more about the federal budget and stack up of the budget items, go to National Debt Awareness Center web site.
federalbudget.com
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