To: Blood of Tyrants
Our deficit is only 6% of our total economy. That's equivalent to financing a car at only 6% of the total income of a household. Where's the problem? The increase in the economy will pay this deficit down without new taxes for anyone, rich, poor, middle-class, bum, welfare mooch, etc...
23 posted on
07/30/2004 6:59:44 AM PDT by
tobyhill
(The war on terrorism is not for the weak!)
To: tobyhill
Our deficit is only 6% of our total economy. That's equivalent to financing a car at only 6% of the total income of a household. We continue to spend more (about 15%) more than we take in. Every year, the debt grows, now about 7.3 trillion dollars, which we pay interest on every year (now about 175 billion, every with the low interest rates).
My analogy would be we are like a family with credit card debt (US debt) of about five times their yearly income (tax receipts). And each year it gets worse.
38 posted on
07/30/2004 7:38:49 AM PDT by
Doe Eyes
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