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Steve Stuck

$963 Billion Dollars

More and more financial leaders are now grasping the amount of borrowing the US is doing and our record breaking deficits. The first half of the fiscal year, the US Government borrowed $963 Billion dollars. Before the year is up, another $1.1 Trillion dollars will have to be borrowed in order to sustain spending plans. Read those figures again and then brace yourself for the another reality of government deficits, next year our government number crunchers are projecting another $1 Trillion dollar deficit on one year budget analysis.

Add on the growing burden of social security and medicare/medicaid, and the numbers start becoming even more stressful for our nation. So a basic question has to be asked, are our leaders in the United States government now purposely tanking our country? Our total debt is running around $11.5 Trillion dollars with forecasts of $65 Trillion dollars of entitlement spending calculated in.

Under our current tax structure, regulations and purposed programs on business/consumers there is no possible way of getting our financial house in order. Anyone with math skills has to be mature enough to see where our situation is going.

Now, some leaders in government are talking about a second stimulus program to try to "fix" our economy. The first one just passed in February apparently did not pay off special interests enough, so why not print another trillion dollars to see what happens.

Do yourself a favor, start preparing your finances and family for the long term negative effects of this experiment going on in Washington DC.

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Chris Eppards Permalink Reply by Chris Eppards on July 8, 2009 at 12:17pm
I agree on all points above, Steve. Our current "recession" is minor compared to the next 30 years. This spending spree cannot be sustained without some significant tax increases for everyone and huge cuts to existing programs.

Blame the bureaucrats all you want, but our government consists of representatives that WE have elected and continue to put back in office. They have simply been responding to "the will of the people", as we always seem to need some new spending for this program, tax breaks for this group, etc.. Our countries fiscal policy has been myopic at best and there seems to be no end in sight. WE have all lived high on the hog for far to long and our children and grandchildren will ultimately pay the price.

Regardless, I keep thinking that I should work harder and save over the next several years so that I may become debt-free, purchase a property in the country and become as self-sufficient as possible. I think my strategy may be my best bet to ride out our economy's inevitable downward decline.

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Tino Marquez Jr. Permalink Reply by Tino Marquez Jr. on July 8, 2009 at 12:39pm
But..... we need gov controlled universal health care this year Steve, or the country will fail. :)

Man, better learn how to plant a garden...

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Steve Stuck Permalink Reply by Steve Stuck on July 8, 2009 at 10:30pm
Yet more proof of how the stimulus isn't working and was a misguided plan from the very beginning. History could have taught us this, but of course we had to do it ourselves:

http://www.usatoday.com/news/nation/2009-07-07-stimulus_N.htm

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