As of this date the national debt is more than $10 trillion, and increasing at a rate of $3 billion/day. I am a businessman with some financial experience, but I cannot even comprehend these numbers.
Governor Paterson of New York recently announced the state has a $2 billion deficit and is in deep financial trouble. But Arnold Schwarzenegger, governor of our great state of California makes Paterson look like a financial genius as our state deficit reaches $16 billion.
Congress recently bailed out AIG to the tune of $85 billion and then followed that with a $700 billion "bailout" bill, even when 65% of Americas were against it. Congress responded to the citizen complaints by telling us "The bailout is needed and the 777 point drop in the stock market on the 29th 0f September is proof ". So Congress approved the "bailout" and the market responded with an 800 point drop the first two days of this week.
And now our governor is the first to run to the government and say, "We need help, bail us out too". I have read that California needs $7 billion just to get through the next few months. And believe me, many states will follow suit with this request for a "bailout". Incredibly the Democrats are still campaigning on the "populist" promise of more for everyone and "We will fund these programs by raising taxes on rich people". I am not rich, but during my career as a small businessman we provided jobs for several hundred hard working employees. No one ever got a job from a poor person.
We are doing all this "social engineering" and unlimited spending starting with a $10 trillion national debt.
Can anyone "Show me the money"?
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