Tuesday, August 17, 2010

How bad is it?

When we talk about the national debt, the numbers being used are so astronomical that most people can't understand the magnitude. The numbers are just too big. Here is an example from the Wall Street Journal that gives you a picture of how bad it is:

Even among such diverse voices, the nation's fiscal problems were a central concern. At $1.47 trillion, the federal deficit this fiscal year exceeds all defense and nondefense spending at Congress's discretion by $110 million. In other words, lawmakers could eliminate the entire military, all federal education, agricultural, housing programs, federal prisons, the Central Intelligence Agency, Federal Bureau of Investigations, Coast Guard and border patrol, and the nation would still be in the red.

Imagine that if you can. No military, no Federal education spending, no Federal prisons. All of that and the nation is still overspending! We will see if the voters finally say enough is enough this fall. Cutting spending sounds great until the cuts impact you.
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