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Raising the Debt Ceiling

The national debt is currently $14 trillion dollars, give or take. That’s nearly $45,000 for every man, woman, and child in this country. And this debt is growing so fast that within a few months it will exceed the amount authorized by congress, $14.29 trillion. Now you know.

  • Sun January 8, 2011, 10:53 pm

    That would have been a very convincing point to make to let tax breaks for the rich to expire. In fact, I along with many others would have been fine about not receiving $50 less per paycheck

  • twentysomethingmoney January 9, 2011, 4:22 am

    Its shocking how high your country’s debt ceiling is… I’m waiting for the day that the congress refuses, and the nation grinds to a halt resulting in a serious reexamination of the finances of the country.

  • JOE January 9, 2011, 8:08 am

    Me as well. Thanks for visiting.

  • Joe Morgan January 11, 2011, 12:51 pm

    I am constantly amazed at the number of people who think the country has a revenue problem (as Sun appears to believe). The problem is spending, not revenue.

    Higher taxes would only exacerbate the problem. When you spend $1.75 for every dollar you take in, taking in more only means you can go spend even more money you don’t have. How is that fair to the tax payer?

    A better idea- government learns to live within its means the way the tax payer must.

    Raising the debt ceiling is no different than paying off one maxed out credit card balance with a new one…

  • JOE January 11, 2011, 1:18 pm

    Great observations, I agree with you. Thanks.

  • Sun January 11, 2011, 1:44 pm

    We’re talking about the debt ceiling. Whether income or expense, debt needs to be attacked on both ends. Raising the debt ceiling is like a credit card that receives a higher balance.

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