July 14, 2009 history was made. The deficit for the United States fiscal year reached $1,000,000,000,000.00 for the first time ever. In all fairness, at one time it reached $1 million for the first time and then eventually $1 billion. But $1 trillion?
Consider – it took 205 years for the federal government to reach the first $1 trillion in debt, finally getting to the magical number in 1981. The national debt including expenses of the Revolutionary War, the Civil War, World War I, World War II , Korean War and Vietnam war still did not drive the national debt to $1 trillion. How long did it take to get to $2 trillion? Five years later in 1986. Our first $3 trillion debt was reached four years later in 1990 and two years later in 1992 the number exceeded $4 trillion for the first time. You get the idea. At the end of 2008 the debt was over $10 trillion. Republicans and Democrats in Congress must share the blame. But so must all of us. Americans did vote for the Congress that we have!
Now, not even seven months into the fiscal year the deficit has reached $1 trillion. There was a time in our history that it took over 200 years to spend that much money. Now it takes just months. It is very possible that before the year ends, the deficit will exceed $2 trillion and the national debt will exceed $12 trillion. I realize that some people feel the only way out of the recession is to spend and borrow more money, just ask Vice-President Biden. It’s not true. You cannot get out of debt by borrowing more money, nor can you get out of debt spending more money. That strategy simply will not work. You know it and so do I. Why doesn’t the US House of Representatives know it? YOU CANNOT SPEND OR BORROW YOUR WAY OUT OF THIS PROBLEM.
The President has frequently told the American people that Social Security, Medicare, military spending, and interest on the national debt are on an unsustainable path. So why continue down the same path that has taken us to this place? How can the economy improve with so much government spending? It cannot. And now here comes health care reform with no agreement on what the actual cost will be.
When will Congress get it? When American voters finally say enough is enough and send candidates to Washington that have the people’s best interest in mind. I think I am that kind of fiscally responsible candidate and I will work hard during this campaign to earn your support.
