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home : opinions : opinions August 19, 2014


11/27/2012 1:03:00 PM
Letter: Do the math, we're buried in debt

Editor:

Please America, wake-up! The financial status of the United States is unsustainable; in other words if we continue: even if we do not borrow any more money from anywhere, the interest obligated on the national debt will bury this nation as we know it.

Just a few simple mathematical calculations should be enough to bring any thinking person out of their rosy dream-world and make them realize this is too much and we have got to cut spending now, not in 10 years.

The national debt is in excess of $16 trillion, so let's use that as a base amount and figure in some hypothetical interest rate figures and time.

$16 trillion to figure 1 percent equals $160 billion and since the interest rate is figured on an annual basis; that is what we would owe each year if we were paying only the interest, (nothing to reduce the debt) and at the rate of only 1 percent, which no one that I've heard of, lends money at that low rate generally 3 percent minimum.

So let's take this a little further; figuring only the interest; not paying anything at all to bring down the principle. Three percent of the $16 trillion is equal to $480 million. Let's calculate: cost per day: $1.39 billion for the interest each and every day.

If you have the mistaken belief that we can just print more money, think about this. Presently, the United States dollar is the World Reserve Currency and in the last couple of years our credit rating has been lowered, and the other nations of the world are getting spooked about the stability of the U.S. currency.

If our credit gets lowered again we could be in big time trouble. This debt can collapse this nation as we know it and if it does, it will be too late to think about saving this beautiful, glorious nation that our ancestors worked so hard to build for us, many fought, a lot of them died or were severely wounded and some have never been found, all this so we can call this place home.

God Bless the USA and take control or our leaders' decisions and bring them in line with your desires. In Jesus' mighty name I pray.

Dale Gohr

Clarkdale



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Reader Comments

Posted: Sunday, December 9, 2012
Article comment by: Martha Custis

When one strictly adheres to the principles of Saul Alinsky, you don't negotiate, you intimidate. You don't take a stand, you make the other guy take a stand and then demonize him. You create so much static with class warfare rhetoric that it drowns out reason and fact. A good case in point is the President's insistence that the wealthy do not pay their fair share. He has been saying this for so long, it is almost an accepted fact by some. The real truth is that the top one percent of wage earners have gone from paying 20% of the total tax burden in the 1980s to 40% today. If you extrapolate out the tax burden to include the top 10% of wage earners, the total share of the tax burden paid by that group is 70%. These facts come straight from current IRS data.

No fair-minded person could conclude from the empirical evidence laid out that the wealthy in this country are not paying their fair share. And yet, the President spews out this categorically false narrative and a certain percentage of the population laps it up like kittens lapping up milk. This is also what followers of Saul Alinsky practice, repeat a lie often enough and it becomes the truth in the minds of the ignorant, the ill informed, and the low information voters. Which apparently now constitutes a majority of the public.

Obama's tax increase on the "rich" would fund the government for about 7 days. He knows this. Unfunded liabilities of our government are now somewhere north of 220 Trillion dollars. In perspective this is greater than the wealth of the entire planet.

"If something cannot go on, it will not go on."

We now have a ruling class of politicians in Washington, both demorcat and republican who no longer care for the future, nor do they care for your children and grand-children. They are obsessed with their own power and weath. The rest of us can go down to destruction. They care not one whit about that.


Posted: Wednesday, November 28, 2012
Article comment by: Juan Rico

Actually the debt is over 87 Trillion.
The government simply lies about it.

Just like the so called budget "cuts" which are not cuts at all.
They just use the 'base line' budget method when 100 billion is slated to be 115 billion the next year, then the come in and say they will only spend 110 billion, Abra Cadabra, Presto Chango, they then say with a straight face they have 'cut' the budget 5 Billion.
Lies.

It has already become a mathmatical impossibility to pay off our debt. The real fiscal cliff is not in Jan, it is is 18 to 36 months and then say hello to America the new third world nation.
Our political leaders know this.
What did you think obabma meant when he said he wanted to fundamentally change America?

Good Luck Chumps
You are most assuredly going to need it.




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