Monday, October 13, 2008

Has Our Economy been flushed down the Toilet? : U.S. Deficit

(political cartoon scanned on from the Chicago Tribune Newspaper.)
While watching the “Real Time with Bill Maher” show, I listened to a democrat from California, Maxine Waters, and a republican journalist, Stephen Moore discussing politics, the economy, and taxes. During this discussion, Bill Maher made a comment about our countries debt problem. When Clinton was leaving office, our country took down the debt clock because we had a surplus of money. Currently, as Bush is preparing to leave office, again our country has taken down the debt clock, but this time for a different reason. We need to add another digit to the clock because our debt has exceeded ten trillion dollars (ten thousand billion dollars). To eliminate this debt, each household would have to provide 480 thousand dollars. If this trend is not reversed our country could go bankrupt. Where does our country even start when approaching the task to defeat this debt?

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