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Folks, I would like to make one point clear. I do not submit these letters to place blame. In fact it is my belief that both political parties do not represent the people.
To quote Thomas Jefferson: “If the present Congress errs in too much talking, how can it be otherwise in a body to which the people send one hundred and fifty lawyers, whose trade it is to question everything, yield nothing, and talk by the hour?”
Funny how things have not changed in 200 years. I post these items for education. Most people do not want to make the time to find this information. I feel learning what is going on is crucial to all of us.
With that being said, here is another item of interest: The U.S. Government deficit for October was $176 billion. This is the largest Oct. deficit on record. The U.S. deficit for 2009 is at a record $1.4 trillion and by December, we may reach the legal credit limit of $12.1 trillion. Congress must improve an increase in the limit or the U.S. is broke. But you ask, what does this mean to me? Tax revenues to the government are decreasing and the spending is going up. For decades the government has been borrowing money from our friends, Japan, China, etc. What do think they are going to do when Congress raises the credit limit to borrow money when we cannot pay back the $12.1 trillion we already borrowed? Do you believe they are going to lend us more? Or will the Federal Reserve just keep printing money? This is a very simple explanation of a very complicated issue. Our government will not shut down. They will raise the limit and print more money. We must ask why, use your voice.
To quote Thomas Jefferson: “If the present Congress errs in too much talking, how can it be otherwise in a body to which the people send one hundred and fifty lawyers, whose trade it is to question everything, yield nothing, and talk by the hour?”
Funny how things have not changed in 200 years. I post these items for education. Most people do not want to make the time to find this information. I feel learning what is going on is crucial to all of us.
With that being said, here is another item of interest: The U.S. Government deficit for October was $176 billion. This is the largest Oct. deficit on record. The U.S. deficit for 2009 is at a record $1.4 trillion and by December, we may reach the legal credit limit of $12.1 trillion. Congress must improve an increase in the limit or the U.S. is broke. But you ask, what does this mean to me? Tax revenues to the government are decreasing and the spending is going up. For decades the government has been borrowing money from our friends, Japan, China, etc. What do think they are going to do when Congress raises the credit limit to borrow money when we cannot pay back the $12.1 trillion we already borrowed? Do you believe they are going to lend us more? Or will the Federal Reserve just keep printing money? This is a very simple explanation of a very complicated issue. Our government will not shut down. They will raise the limit and print more money. We must ask why, use your voice.
