Debt Ceiling has a Hole In It

Filed under: In The Right Mind |
government debt

debt ceiling

Marquette, MIFebruary 13, 2014- Surprise! We’re Deeper in Debt…

The debt ceiling was raised this week – much to the chagrin of those of us who believe we should live within our means.  The new limit of $17.2 Trillion makes it clear that government can’t control itself.  It also brings out the people who don’t see a problem with this debt, since they won’t be alive to pay it back – and in large part are the reason the debt exists in the first place.

The interest alone on this debt amounts to $300 per month for every working person in the USA – FOREVER.  The increase only adds another $10 per month – FOREVER.  Remember, this isn’t to pay down the debt… this is the interest only at a rate of 2%.  The reality is much worse.  I applaud ALL the legislators who voted AGAINST raising the limit – even though they lost the battle.  Our congressman (Dan Benishek) made a very clear statement – we need to stop spending money we don’t have. 

-Dan Adamini – In The Right Mind

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