FROM CNN's Jack Cafferty:
If this doesn't scare you, it should:
Our national debt is increasing at the rate of $5 billion a day and has now passed a record $13-trillion. Since President Obama has taken office, the debt has increased $2.4-trillion in less than 17 months. Staggering.
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2010/images/02/17/art.debt.clock.jpg caption=" FILE PHOTO: A shot of the National Debt Clock on July 13, 2009. "]
We are in a fiscal crisis every bit as serious as the environmental crisis in the Gulf. And the implications are even more dire.
It doesn't really matter whose fault it is. And blaming someone doesn't make it all right. We, the taxpayers, are the ones who will have to pay.
A piece on CNNMoney.com called "Why U.S. Debt Matters to You" describes how this burden won't only fall on future generations - it will affect all of us.
Several problems could happen sooner rather than later, including slower economic growth and higher interest payments.
Some say if something isn't done soon, the U.S. could face a debt crisis in as few as five years. But nothing is being done; and nothing probably will be. See, there is an election in November and the gutless people we elect to run the country won't do anything until after that - if they even do anything then.
The president has appointed a commission to study the problem. It's pretty much worthless - has absolutely no power to change anything... just make recommendations which aren't due until December.
How many $5-billion-dollar days is that?
Meantime the country is like one of those Toyotas with the accelerator stuck... going faster and faster straight for disaster. And nobody cares.
Here’s my question to you: How much do you worry about the $13-trillion federal debt?
Interested to know which ones made it on air?
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