Tuesday, April 06, 2010

Debt Crisis Looming Large

While career politicians pretend that our debt is no big deal, it appears that it certainly *is* a big deal. As a matter of fact, it's been a big deal for a very long time; however, it is fast becoming a big deal that will soon be crashing down on our heads while our Congress continues to add trillions to it. All while covering our eyes and their ears while chanting, "La la la la la -- I don't hear you -- la la la la la -- You don't see me -- La la la la la..."

From Bill Wilson at Americans for Limited Government's "Get Liberty" blog:

Since the beginning of 2009, there have been 46 such emergency auctions, according to an Americans for Limited Government analysis of CMB sales from January 7th, 2009 until April 1st, 2010. That's a lot of shortfalls.

In 2009, with 37 such auctions, that means the Treasury had a shortfall on average every 9.86 days. That's how quickly the national debt is coming due. Less than every ten days — quicker than that really, if one counted all of the other Treasury auctions — more and more principal owed on the debt comes due.

I don't recognize this country any more. We used to be a little more responsible than this. Didn't we? Enjoy that "free" healthcare, y'all, because it's costing us, our children, and future generations a future full of financial slavery.

 

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