Or 2,000 billion. Once (last year) a record $400 billion deficit was considered excessive and dangerous. What a difference a year makes! This years deficit is estimated to be at least
$2 Trillion dollars a record for any country in any year. This works out to over
$25,500 per taxpayer and will be a record
12.3% of our GDP. Get ready for another record
$1,000,000,000,000 tax increase over the next 10 years. This is as John McCain said "Generational Theft" where we are taxing money from all our children, grandchildren and their children. All of this money
must be payed back, with interest. And we are just beginning...
Or 2,000 billion. Once (last year) a record $400 billion deficit was considered excessive and dangerous. What a difference a year makes! This years deficit is estimated to be at least $2 Trillion dollars a record for any country in any year. This works out to over $25,500 per taxpayer and will be a record 12.3% of our GDP. Get ready for another record $1,000,000,000,000 tax increase over the next 10 years. This is as John McCain said "Generational Theft" where we are taxing money from all our children, grandchildren and their children. All of this money must be payed back, with interest. And we are just beginning...
3 comments:
Thanks for you comment at my site.
I also like your site. I will be glad to exchange links but I prefer knowing the people. Drop me an email at editor@arragopwing.com
Dr. Bill Smith, Editor, ARRA News Service
From what I've been reading, we'll be FORTUNATE if the debt ends up being "only" $2 trillion. Most of these numbers you see bandied about do not include the "off-budget" items. I've read some sources that suggest that if the "off-budget" items are added back in, our deficit could reach as much as 4 or 5 Trillion $$$$$. Yikes!
Cool, to exchange links. Please link me at http://thedailyblogster.blogspot.com and I will gladly reciprocate.
As you were...
Mr. Bob
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