What is the price we will pay on our $13,614,052,490,714.72 in federal debt? I am about to have my first child and I truly fear for his future. At his birth, he will inherit $43,000 in debt per citizen. Once he becomes one of the lucky taxpayers, he will be responsible for paying the debt owed to two other non-taxpayers (too young to pay, too old to pay, too poor to pay or too lazy to pay) and that jumps to $121,000 of debt per taxpayer.
In the four years the Democrats have regained control of the US House (2006 election), the federal budget has gone from $2.6T to $3.8T! We have a SERIOUS spending problem and trying to protect sacred cows is not going to help us solve this issue.
I find it funny that David Price wants to "save" $700 billion by raising taxes to the 2001 levels. This will still leave us with $10 trillion in ADDITIONAL debt over the next decade. If we rolled back spending to 2001 levels, we'd INSTANTLY balance the budget TODAY, with no tax increases need. That would be almost $11 trillion in debt eliminated.
We need an honest discussion of our fiscal issues, not more Washington Doublespeak.
Indy Week • 302 E. Pettigrew St., Suite 300, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
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