09 December 2009

A Mountain of Debt

I was listening to the radio and I heard an interesting ad. It was the treasury asking for donations to pay off the National Debt. My first thought was why in the world would anyone choose to do this? Isn’t it enough that they already confiscate a large part of our income? Now they are asking for donations in order to pay off the debt created by things which half I don’t agree with anyhow.
The U.S. Treasury Department accepts gifts, payable to the Bureau of the Public Debt. Just mail them to the attention of Department G, Post Office Box 2188, Parkersburg, West Virginia, 26106-2188. Make a note in the memo section that it is a gift to reduce the debt held by the public.
Yes it is true!
My second reaction was if it was tax deductable? I suppose that may be enticing to some as well as a bit ironic. After I got over the shock of it all I realized that it seems to be somewhat logical. Last time I checked our current national debt was $12,096,541,119,175.41. We know that we are going to send 30,000 more troops over seas and each troop costs the U.S. approximately one million dollars each year and the national debt increases about $3.8 billion each day already. There is no end to the debt in sight. It would take each U.S. citizen $39,351.04 to pay off the national debt. I don’t know about you but I rather have people go out and buy frivolous junk with that money in order to stimulate our economy.
Some economists believe that debt is a good thing and this is how a capitalist society is supposed to function but I doubt that they would agree that this much debt is a good thing. It is a scary situation that we have gotten ourselves into and I feel like my grandchildren’s great grandchildren will still be paying off this mess.

No comments: