Can we please talk 'Debt Control'? It's For the Kids
Debt Limit USA crafted this easy to understand 3 minute piece that explains what our government is doing--borrowing more money than it takes in. They call it Debt Limit - A Guide to American Federal Debt Made Easy, or as I call it, The Debt Crisis in Terms Even a Low Information Voter Can Understand!
It doesn't get much easier than this; watch the whole thing. The ending is applicable to our unsustainable debt problem.
In case you didn't catch the last slides from the clip, the dad's annual household budget had $140,000 household debt, income of $21,700, $38,200 in spending, $16,500 in new bank to loan (debt), budget cuts $385--about 1% of their total household budget. Sound familiar?
Our Federal Budget Deal to Raise Debt Limit was: $14 Trillion total debt (obliviously, this was from the last 2011 debt crisis because we are well over $16T now!), $2.17 T federal income, $3.82 T in Fed. spending, $1.65 T in new debt, and the amount "cut" (from future spending)? A measly $38.5 Billion, about 1% of the total budget.
No matter, our children, grand children and great, great grandchildren will be picking up this tab.
Unlike other It's for the kids pleas, this one IS for the kids! Us too.
House Votes to Temporarily Suspend U.S. Debt Ceiling
Obama's Now Borrowed More Than All Presidents from Washington to W
US Debt Headed Toward 200% of GDP Even After 'Fiscal Cliff' Deal
Speaker: Fitch: Cut Spending or Risk Credit Rating Downgrade
Morning Bell: Don't Raise Debt Ceiling Without Balancing the Budget
I urge you to contact your legislators and tell them to talk about our spending crisis and then stand firm on more debt. We don't have much time.
Contact your Representatives and Senators
Find your U.S. Senators by last name
Wisconsin's U.S. Senator Ron Johnson (202) 224-5323
Wisconsin's U.S. Senator Tammy Baldwin (202) 224-5653
Find your U.S. House of Representatives member by state
House Representative James Sensenbrenner Washington D.C. (202) 225-5101, Brookfield (262) 784-1111