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The American Empire in a Changing World



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Sunday, April 24, 2011

America's Debt Bomb

from myplainview.com.....

"All we have been hearing this week is Shutdown-Shutdown. I just wish this was our biggest problem. I wonder if there is anyone in Washington that realizes how much trouble we are actually in? I had a ray of hope when Ryan announced he had a budget with six trillion (over 10 yrs) dollars in cuts. Then I saw the numbers. His 10-year budget calls for expenditures of $39.96 trillion over 10 years. That averages out $3.996 trillion per year. Our current budget is $3.6 trillion per year. Ten years $36 trillion. My calculator says that that is an increase. He is basing this on Obama’s budget of $45.9 trillion over 10 years. Granted, it is a cut from Obama’s budget, but it is NOT a cut. Our revenue is about $2.4 trillion. Ten years equals $24 trillion. 


...............Even Ryan’s budget would add 12 trillion to our debt of 14 trillion bringing it to 26 trillion. There are many countries that have been brought to their knees by spending and debt. Research the Weimar Republic in Germany. We are following in their footsteps. There are only three ways to get out of our debt situation. One is impossible (but does point out the extent of our problem) The other two are hard and painful. Lets take a look at them"......................read it here

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