The time has long passed when we should have been demanding an answer to the question: Just who is going to pay for this astronomical national debt?
David Stockman, White House budget chief under President Reagan, notes it took the United States 205 years to reach $1 trillion in debt, but only 33 more years to get to the current $18 trillion debt mountain. And he says things are about to get worse.
According to a report in NEWSMAX.COM, Stockman estimated today's federal debt amounts to 106 percent of GDP, and when state and local debt is factored in, total government debt is 120 percent of GDP – a load that would put many Americans in a homeless shelter if they owed it money on an individual basis. That would be over $60,000 for every man, woman and child in the country. Oh, I forgot: once you factor in the new illegal aliens, it would probably drop to $58,995 per person.
If you had to pay your share tomorrow, what would you do?
Considering what Moody's, Standard & Poors, and other companies have said about our mounting debt, I'm flabbergasted that this subject is not first and foremost in our national discussion.
Oh well, who cares?
That's MY AMERICAN OPINION, respectfully submitted.
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