You know, when I went to the Kansas City Tea Party, I made a t-shirt for my wife to wear. She was about 8 months pregnant and, well you can see it below:
The shirt was a big hit, but the fact is, it was wrong. At the time, I used the estimates for what each citizen owed for the national debt. But according to a “former official in the George H.W. Bush White House,” I used the wrong numbers:
David Walker, the former US Comptroller General, says that the federal debt level is approaching $55 trillion and if you add in the what is owed on the state and local levels — plus personal household debt — it adds up to $75 trillion in obligations.
Walker, who now heads the Peter G. Peterson Foundation, named for the co-founder of the Blackstone Group, warned that without fiscal restraint, Uncle Sam may be guaranteeing that our future is not as prosperous as our past.
At the $75 trillion deficit level a family of four owes $1 million, he said.
Emphasis mine. So, thanks to all the moral busybodies through the years who ignored the Constitutional limits imposed on the federal government by the Constitution, I now owe seven figures. And you can keep that “What about the general welfare?” crap to yourself. That dog won’t hunt.
When you hear President Obama talk about his health care reform, and how it’s ok to borrow for it, remember, If you are a family of four, you already owe $1,000,000 in taxes.
When he talks about instituting a cap and trade plan, which will increase the cost of energy in America, remember, you already owe $1,000,000 in taxes.
When politicians talk about new programs that are needed to do this or that, things the federal government was never meant to do, remember, you already owe $1,000,000 in taxes.
We better get what we owe paid off, if we even can, before we go the way of the USSR, collapsing under the weight of our own fiscal obligations.
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