The US national debt is a cancer
David M. Walker, former head of the General Accounting/Accountability Office of the United States of America will be on tour this fall to raise awareness about the critical national security issue of our national debt and debt obligation. We all need to understand these issues in order to protect America and the ideals we aspire to. The American Dream is at risk if we don’t pay sharp attention.
The debt issue is a clear and present danger to the security and prosperity of every American. We have multiple issues to deal with, but if we fail fiscally we will be less able or even unable to manage and maintain the American Dream. It’s time to ‘wake up’ America to our current realities and move with a purpose to achieve fiscal responsibility so that we may continue to maintain and strengthen the United States of America.
What People Typically Don’t Know About Our Debt
we are going to have to tighten our belts and rethink how we can go forward, not as individuals but as a country
Most Americans are aware of the national debt. But most are not aware of the national debt obligation. This has to do with who is loaning us money to pay for our indulgences… And where do these indulgences come from? Well, from our distorted political system of course. By putting special interests in the drivers seat to increasingly influential degrees, we have allowed the entire economy and yes, even the security of America to be threatened by politicians over-promising and guaranteeing us more when the coffers are not just empty, they are mortgaged out to every other country that bought our treasury bonds.
We are mortgaged up to our eyeballs and many still don’t even know that our politicians basically sold us out for votes and favors to the largest campaign donors. Of course this is all done with our (their) best interests at heart.
The facts are going to be hard for Americans to get used to. We can’t afford all the things the politicians… well, let’s really face the hard facts, ‘that we’ promised our selves. We apparently can’t have our cake and eat it too.
As of 10:29 GMT September 4, 2012
The Public Debt and Debt Obligation stood at:
- Treasury Departments Public Debt Obligation: $15,990,541,092,391
- Including uncalculated obligation: $70,373,483,000,000
That 440.09% worse than is reported!
Whether we like it or not, we are going to have to review and overhaul a lot of the entitlements that we have become addicted to and now expect. Medicare, military, energy, education, governance, fire departments, police, roads, water, et cetera.
These are all services we have come to expect. But because we now expect too much, we can’t afford everything. And every sector, and every group, and every individual that has an attachment to particular entitlements that are relevant to themselves will complain as we start talking about which ones we need to cut back on.
Medicare recipients will complain if we say we need to restructure medicare. Teachers will complain if we say we can’t afford teachers, firefighters will complain if we say we can’t afford firefighters. And yet we see it now. States are cutting back on services because they can’t afford them, and different groups are complaining, loudly.
Well, like it or not we promised ourselves, through our overly influenced politicians imbibing on ‘too much’ special interests money. Because we allowed it to go that far, we are going to have to tighten our belts and rethink how we can go forward, not as individuals but as a country, and start making tough decisions.
About the 10 Million a Minute Tour
Led by the Comeback America Initiative the tour will stop in over a dozen states, bringing national attention to the economic and fiscal challenges facing our nation. The tour is fact-based, non-partisan and non-ideological. It will focus on the tough choices we face and sensible, non-partisan solutions that can achieve bipartisan support and restore fiscal sanity.
If you would like to learn where the $10 Million a Minute Bus Tour is stopping, a complete listing is provided here.
See the impressive list of individuals who have expressed support for the $10 Million a Minute Tour and add your name to the list
About CAI (The Comeback America Initiative)
The Hon. David M. Walker, a former U.S. Comptroller General, is the founder and CEO of CAI. CAI is a non-profit organization that promotes fiscal responsibility and sustainability by engaging the public and assisting key policymakers on a non-partisan basis in order to achieve solutions to America’s fiscal imbalances.
What Does That Add Up To?
| 10 Million | Per Minute | Equals |
|---|---|---|
| Per Second | $166,666.67 | $166 Thousand |
| Per Minute | $10,000,000 | $10 Million |
| Per Hour | $600,000,000 | $600 Million |
| Per Day | $14,400,000,000 | $14.4 Billion |
| Per Week | $100,800,000,000 | $100.8 Billion |
| Per Month | $403,200,000,000 | $403.2 Billion |
| Per Year | $5,245,200,000,000 | $5.2 Trillion |
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