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It is reported that our country, the United States of America, is deep in debt. It seems our elected governmental officials including the President have had to borrow money to pay for the things our leaders believe are necessary. I mean, actually borrow money above all the taxes that are collected from those of us who pay them.
During the eight years of President Bush's term, the debt increased by $4 trillion. That $4 trillion is more debt incurred than all the presidents who borrowed money from George Washington to Bush’s term added together. That is mind boggling.
In the three and one half years that President Barack Obama has been in office, the government has borrowed $4.5 trillion, and at the present rate of spending it will become more than $5 trillion by December. During the first two years of Obama’s presidency, the Democrats controlled both the House of Representatives and the Senate.
Upon the mid-term election, the Democrats lost control of the House and maintained control of the Senate. The Republican-controlled House has tried three times to pass a budget to control spending, and each time the Senate under Harry Reid has prevented it from coming to a vote in the Senate.
President Bush’s spending in eight years was unprecedented without a doubt. But President Obama and Congress have spent more in three and one half years, and at present the spending continues.
How much is a trillion dollars? Most of us are comfortable with normal working wages. Let’s say a man or woman makes $500 a week; that is $2,000 in a month. That is not a lot of money, but it is more than many workers in Levy County. In reality, cars and houses cost in the thousands and to make a million is impossible for most of us. So what does a trillion mean?
To make $1 million dollars you have to make $1,000 one thousand times. That is: $1,000 X 1,000 = $1,000,000 or a million bucks. To make a billion you have to multiply 1,000 times a million, that is 1,000 X $1,000,000 = $1,000,000,000 — a billion bucks.
Every year our Government under the direction of our President gives billions away to many countries that don’t like us hoping to make them like us. Is that nuts or what?
One trillion dollars takes 1,000 X $1 billion. That's 1,000 X $1,000,000 = $1,000,000,000,000
President Obama has borrowed nearly $5 trillion and we as a country that can’t even afford the interest payments.
Are you better off now since President Obama has come into office? Do you have a good job? Is your home paid off?
Every one of us knows people out of work. We are told over and over that it is President Bush’s fault. Is it? Obama has devastated us financially. Spending must be controlled. Who will do it?
Roger H. Allen