Voices Empower
 

SETTLING THE BLAME GAME ON THE ECONOMY

By Donna Garner

DONNA GARNER - Educator for 33 years, appointed by President Reagan, Now Activist Writer

I listened to “the blame game” yesterday on TV as Obama and the liberals tried to blame the tea partiers for the debt crisis and the loss of the S&P AAA credit rating.  

How utterly ridiculous! 

Then thankfully a person with some common sense explained, “When our house is falling down because of termite infestation, should we blame the exterminator?  Of course not. We should blame the termites.” 

Knowledge is Power. Read this report that was first published on 7.5.11. 

“LET’S GET REAL ABOUT OUR NATIONAL DEBT” BY HENRY W. BURKE

SUMMARY OF THIS REPORT

National Debt

Basically, our national debt is the amount of money our country owes. When Obama took office, our National Debt was $10.6 Trillion.  Today it is $14.3 Trillion. This $3.7 Trillion increase is 2 ½ times the annual increase under President Bush.  

When the Democrats took control of Congress on January 4, 2007, the National Debt was $8.7 Trillion.   When the Republicans regained control of the House on Jan. 5, 2011, the National Debt was $14.0 Trillion; therefore, the national debt grew by $5.3 Trillion under the Democrat-controlled Congress.

Deficit 

The deficit is the difference between what the U. S. government takes in from taxes and revenues and the amount that the federal government spends during one fiscal year.  When deficits accumulate, the national debt increases. 

Instead of focusing on budget deficits, we should be focusing on the National Debt.  If the National Debt were to go up in a particular fiscal year, that means the government ran a deficit.  If the National Debt were to go down in a certain fiscal year, the government has run a surplus and has paid down the debt. 

The United States does not have a revenue problem; it has a spending problem

Congressmen should vote “no” on raising the debt ceiling.

Knowledge is Power~ Click and share with your friends!

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