A DIRE WARNING ABOUT OUR NATIONAL DEBT

Submitted and authored by: John Porter

Americans Everywhere July 1, 2015        The Director of The Congressional Budget Office (CBO), Douglas Elmendorf, testified before the Senate Budget Committee three years ago and declared that the cumulative deficits over the next ten years could run as much as $12 TRILLION DOLLARS if current policies remain in place. He has been right on target so far.  "The longer you wait to make those policy changes...the greater the negative consequences (of the national debt) will be", he said. He also stated in his testimony that under current policies the National Public Debt would reach nearly 100% of GDP (all annual economic activity in the United States) in 10 years. Mr. Elmendorf stated if "deep budget cuts" were not made our federal government risks sending the nation into a "fiscal crisis".  He warned Congress if they didn't start balancing the budget soon it would be too late to head off, or at least minimize, a national debt-driven fiscal calamity in the future. He had several more dire warnings if "deep budget cuts" aren't made. In only 10 years our National debt will be more than $26 TRILLION DOLLARS. (It stands today, July 1, 2015 at over $18 trillion and increasing $500 million every day.)              These actual numbers, warnings, predictions didn't come from a Political Party, Republican led House, or Senate, the White House, nor TV Pundits. They are from the top numbers cruncher, if you will, for Congress. The responsibility of the CBO is to keep Congress informed where they (WE) are financially. They are the book keepers.              Anyone who is aware of what's happened in Greece and watches and listens to president Obama and Hillary Clinton with his constant proposals and her promises of higher taxes and $trillions more in spending on federal programs, if elected president, can surely understand where they are leading this country.  Let us reason together for just a moment and seriously, without political prejudice, ask ourselves just as individual Americans why on earth, in the face of the facts of our nation's situation, would president Obama, or any president, man or woman, do this? When we, as a nation, are headed for a $26 TRILLION indebtedness, why would they want to add more to it?  I beg you to allow me to offer, for your consideration, two reasons it possibly could be.  It seems from their actions and rhetoric, they have learned very little from the economic crisis facing this country and the rest of the world or they don't care. Either Barack Obama and Hillary Clinton are incompetent or it is intentional for another purpose. Either way it is a coming disaster for our country.  Americans everywhere spoke loudly last November to our government to stop over spending and reduce our debt, yet president Obama goes in the exact opposite direction with his actions and Hillary with her rhetoric as though we don't matter. Every person in both of our houses of Congress, regardless of party, who are willing to shut down these two people's appetites for national public debt needs our support. I urge all of you to also support someone for president who will pledge to eliminate the deficit and began reducing the debt before we become Greece, not the person who has pledged to keep us heading in that direction.        What you see below are facts, not political rhetoric. Read it, study it and see if this is where you really want to go as a nation. Recent and budgeted headline federal budget numbers in the FY15 Budget including overall spending, deficit, and debt in trillions. $ trillion nom 2014 2015 2016 2017 2018 2019 2020   Spending 3.5 3.8 4.0 4.2 4.4 4.7 4.9     Federal Deficit 0.5 0.6 0.5 0.5 0.5 0.5 0.6     Other Borrowing 0.6 0.3 0.2 0.3 0.3 0.3 0.2     Gross Federal Debt 17.8 18.6 19.3 20.1 20.9 21.6 22.4 source: actual budgeted estimated Click for Budget Detail Please forward to all you wish by any means you choose. Until next time: John Porter