Issues

WASHINGTON KEEPS SPENDING TODAY.
The national debt is putting an unfair financial strain on future generations. Every child born today is shackled with $30,000 of our nation’s debt .The U.S. government borrows approximately 41 cents of every dollar it currently spends. At this rate, America’s next generation will be born owing more than $160,000. Record deficits mean fewer jobs and higher taxes. According to Treasury Secretary Tim Geithner, the interest on the national debt will grow from $300 billion per year to $844 billion per year, which he termed “unsustainable.” This will cause income taxes to increase to near 60 percent, reduce economic growth and increase unemployment. We must act now to restore our children’s future by cutting spending and finally paying down the debt.

OUR NEXT GENERATION PAYS TOMORROW.
According to Harvard historian, Niall Ferguson, every great power has failed when it spent more on the interest on its debt than on its Army or Navy. We are perilously close to that point now and unless we reduce our debt, we will soon join the company of second rate nations. No longer able to defend our liberty, we will be replaced by China as the leading world power. Senior citizens also will pay the price. Unless we end deficit spending and reduce the debt, the projected interest payments of $844 billion per year will cause large cuts in programs like Social Security, Medicare and other services that are vital to our senior citizens.