- The American Federal debt exceeds $7.4 trillion. It's
SO out of control, it's like a cancer that has metastasized to every corner
of our pocket books. Each day we work at our jobs, our taxes pay over $600
million on interest to the Federal debt. In other words, we pay the rich
to get richer and we become poorer. Much worse, we write checks that our
children won't be able to cash. We create a whirlwind of consequences for
- According to Brian Williams at NBC, the expected deficit
for 2006 will exceed $383 billion. By that time, the total Federal debt
will exceed $8.1 trillion.
- Last week, Bush and Congress passed another $81 billion
spending bill for Iraq, but it's not money in our bank, it's money we borrowed.
How does it serve us or our citizens when our leaders force us into bankruptcy?
- Far worse than that financial crisis, our consumer debt
exceeds $2 trillion and the average credit card carries an $8,000.00 balance
according to NBC Nightly News. But it doesn't stop there. Bush bumped the
debt ceiling by $800 billion this spring. Foreign investors lend us $1.6
billion daily to float the American economy.
- In a recent column in the Rocky Mountain News, April
24, 2005, former Colorado Governor Richard D. Lamm wrote, "We have
lived in the most prosperous times in human history, yet we are leaving
our children with a staggering federal debt. We were the largest creditor
nation, but we leave our children the world's largest debtor nation."
- In the last 50 years, America manufactured everything
needed in the world. Today, the last four presidents outsourced, offshored
and insourced jobs and factories to all parts of the world. American corporations
owing their foundations and power to American citizens-callously and greedily-moved
their operations to Third World countries. We no longer have goods to sell
the world. We're spending ourselves into enormous liabilities.
- Lamm wrote, "We don't think of the unfunded liabilities
for benefits we enjoy but whose cost we leave to our children. The Concord
Coalition estimates these unfunded liabilities to be a staggering $74 trillion
not paid for by our present generation. These unfunded liabilities are
from Social Security and Medicare, and every dime of the Iraq war has been
put on our children's credit cards."
- The fact is President Bush is the most reckless-spending
president in the history of the United States. He's eating more pie than
he can swallow. Our children will be paying for his 'upchuck'. But he's
not alone. He's aided by both parties. They're like a bunch of 12 year
old kids with credit cards in a mega-mall with no understanding of who
pays off their signatures after all their spending sprees.
- What adds to this financial quicksand in which we're
sinker deeper? How about a million H-1B, H-2B and L-1 visas handed out
to foreigners who displaced American workers right here on our own soil?
How sickening is that to be sold out by our own elected senators and congressmen?
All those senators love their names in print and on TV while they sell
us a bill of goods: Kennedy, Hatch, Reid, McCain, Allard, Kyl, Clinton,
and well, you guessed it the majority of them!
- How about three million jobs outsourced, insourced and
offshored to other countries in the past 10 years? What about 20 million
illegal aliens displacing jobs from America's middle class and working
poor? What about the $68 billion it costs taxpayers to pay for illegal
aliens using our schools, medical services, welfare, housing assistance
and food programs? What about the $1.6 billion annual costs of illegal
aliens being housed in state and federal prisons? What about the $7.4 billion
in educational costs for illegal aliens in our schools? Answer why we pay
for over 300,000 anchor babies at a cost of billions annually? What about
the unemployment costs to our own citizens who lost their jobs? How about
the drug rehab costs from the $128 billion annual drug influx to our citizens?
- Follow the money! Remember Ken Lay of Enron? He was/is
either a liar, extraordinarily corrupt and cunning, or simply too inept
to know what was going on in his own corporation. How about all the corrupt
'Ken Lays' in our Congress? How many senators and congressmen are bought-off
by lobbyists? Would we be in this national crisis if they were responsible
to us? Not on your life!
- What's happening? The rich get richer and we pay and
pay and pay. We also lose our ability to pay for our families. Meanwhile,
the Middle Class sinks into the Lower Class. Every Third World country
features only two classes. They don't enjoy a Middle Class. Guess where
we're headed under our Spanish speaking, sombrero wearing Senor Bush?
- But our children will pay even more on this national
debt. Lamm wrote about the coming dilemma, "'The Coming Generational
Storm' by Kotlikoff and Burns points out that the fight for social justice
between the 'haves and have-nots' has evolved into a new issue of the 'have
nows' vs. the 'have-laters'. We have to create justice not only within
a generation, but between different generations. We are failing on both
counts. We are eating our children's seed corn and they shall reap the
- In plain terms, Bush and Congress are screwing the future
of this nation.
- © 2005 Frosty Wooldridge - All Rights Reserved