“It is time we passed a balanced budget amendment and return this Government to limited spending.”
-Former Speaker of The House of Representatives Newt Gingrich.
Speaker Gingrich, I wholeheartedly agree. There has only been one president in United States history who paid off the national debt; Andrew Jackson. That was in 1830’s. Ever since then, the national debt has grown. 3 Trillion by 2000. At the time i wrote the article, the exact national debt was $16,964,068,945,333. The debt per citizen was $53,531. The debt per taxpayer was $148,133.
You can see the exact national debt at: http://www.usdebtclock.org.
That is Unacceptable! And the democrats want to let us slide deeper into debt.
No family or business that wishes to keep it’s self operating will not regularly spend more than it takes in. The government does not have the right to ruin generations of Americans and our International standing by devaluing the dollar and plunging our country in deep debt. With almost 17 trillion dollars in debt, America is no longer the greatest nation on earth. America just an international partisan joke. France’s LeMonde urges americans to “Wake Up! You’ve gone crazy!”
Germany’s Der Speigel says that “The most powerful nation on earth has ground to a halt.”
So enough complaining. How do we fix the budget? It starts with not raising the debt ceiling. We bring in $191,666,666,667 per month. Our monthly debt obligations are $35,000,000,000. That gives us a surplus of $156,666,666,667 per month to spend. If we take another ten billion to help pay off the national debt, 146,666,666,667 left to budget out. That gives us $30,800,000,000 to spend on Social Security, 27,866,666,666 for defense spending, 23,666,666,667 discretionary spending, $26,400,000,000 for medicaid and medicare, and $26,400,000,000 for other programs such as social programs. We could also cut out programs that are essentially useless at present such as the Department of Rural electrification, Voice of America, and the Administration of Aging, and put this money towards paying off the debt. Using this plan, we could cut the debt $1,000,000,000,000 (1 Trillion) per year!
“You balance the budget by restraining the government and encouraging the growth in the private sector”. -2012 Presidential Candidate Mitt Romney