The greatest threat to our national security is our debt.
“I was shown the figures the other day by the comptroller of the Pentagon that said that the interest on our debt is $571 billion in 2012,” Mullen said at a breakfast hosted by The Hill. “That is, noticeably, about the size of the defense budget. It is not sustainable.”
“We are rapidly approaching the point at which we can no longer fund a robust defense system for the US and the Western world. Our ability to maintain forward strategies to engage and destroy terrorist networks will disappear, but not before we have to scale back our military presence around the world. We have overspent for decades across the board, and the interest payments on the national debt alone will cost us more than our defense systems — on top of which the heavy burden of unfunded entitlement liabilities will start cresting as the Baby Boomers enter retirement. Steve Eggleston updates us on the quickening slide of Social Security into the red, just to remind us of that fact.”
We are screwed :(
While we have overspent for decades, it should be pointed out that the national debt when Bush took over was about $5.5 trillion. When he left it was around $9.65 trillion. Today it’s about $14.25 trillion.
We are very close to tripling the debt our nation owed just ten years ago today.
For heaven’s sake, they need to quit spending us into oblivion. Sadly, I think they know exactly what they are doing. By design they have spent us to the point that we cannot continue to be the global watch-dog.
By God, if we surrender on the issue of a strong defense, China will fill the void, and then heaven help everyone.
We have forgiven so many countries debt. We should ask the countries we owe to forgive our debt or just tell them that we won’t pay. I wonder what would happen.