Watch this non-partisan video on the U.S. budget. In reality, the situation is worse than stated because the budget assumes that the interest rate on the debt will remain at historically low levels. It is now arbitrarily less than 2%. If it goes to 5% which is closer to the historical rate, the cost of the debt would be more than 3 times what it is now. It also assumes that ObamaCare will go as planned, and that the defense budget will shrink. You know those are both iffy.
None of the entitlement programs pay for themselves. If the U.S were a business, it would be bankrupt and liquidated.
Kids, you need to save some money and not be vulnerable to debt. We will surely be in a great depression before the end of this decade unless Congress allows the Bush tax cut to lapse next year, and they start culling back entitlement programs now.
You may have to cut and paste the link. If you want to read the spreadsheet, pause it.
This short slide show sums up our dilemna the best that I have seen to date... good luck finding a politician that would actually stand behind this factual presentation with a "feasible" solution alternative that could bring things into balance given the continued WEAK economy that we have.... J.H., Carmichael, CA
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