it sure was an eye opener for me! Plain and in simple everyday terms. thank you!
Thanks for the post. ;-)
Cash flow is a number that can’t be faked for business or government.
Good post.
Last Congress Boosted Debt by Record $3.22 Trillion
The federal government ran up more new debt during the 111th Congress than it did during the first 100 Congresses combined, according to the U.S. Treasury.
As of Dec. 28, the national debt had risen by $3.22 trillion during that Democratic-controlled Congress equal to more than $10,429 for each person counted in the 2010 Census.
The total debt stood at $13.85 trillion on that date, or about $44,890 for every man, woman, and child in the country.
The new accumulated debt shattered the record set by the previous 100th Congress, which adjourned on Jan. 4, 2009 $1.95 trillion.
While Democrats controlled the House and Senate in both of those Congresses, the two previous, Republican-controlled Congresses each added more than $1 trillion to the national debt.
The overall federal debt did not reach the $3.22 trillion figure until September 1990, during the 101st Congress, CNSNews reported.
Since Nancy Pelosi assumed her post as speaker of the House on Jan. 4, 2007, the national debt has ballooned by $5.17 trillion.
Yet during her inaugural address as speaker, Pelosi had vowed that under the 100th Congress the government would not burden future generations “with mountains of debt.”
She said: “After years of historic deficits, this 100th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending.”
No, I see the same thing, just from a backward angle. I’m worried about saturating the bond market. We’ve already had some scares in the auctions. I think we’re close to the day when everyone says ‘No more please sir.’
Massive deregulation and detaxation required to put the American job machine back on track.
Problem is...that requires beurocratic hacking and slashing in DC. They won’t do it to themselves.