Can we sit and ponder this for a moment? When you read about the national debt in newspapers, you always see it written like this: $12.1T... but really this is almost an unfathomable number (when you write it out).
$12,100,000,000,000
Now that is a lot of money.
What concerns me the most is not that our national debt is growing out of control and we'll soon be a wholly owned subsidiary of China, but that no one seems to have a plan to dig our way out of this. Think about it, in 20 years, when we are in our 40's and 50's do you want our country to be mortgaged to China? Do you want them influencing our economic policy? Do you want competition and INNOVATION to go by the wayside?
I don't.
President Obama announced last night that he wants to freeze government spending. But what does that mean. Does it mean that he'll just find new taxes to offset the spending plans of Congress (so that our companies and people are at a disadvantage in the global marketplace)? Does it mean that he'll cut entitlement programs (which make up over 50% of the budget)? I am interested to watch the State of the Union on Wednesday to see the specifics on his plan.
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