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De Omnibus Dubitandum - Lux Veritas

Monday, June 17, 2013

17 Reasons To Fear 17 Trillion in Debt

 June 17, 2013

Remember the debt? That $17 trillion problem? Some in Washington seem to think it’s gone away. The Washington Post reported that “the national debt is no longer growing out of control.”Lawmakers and liberal inside-the-Beltway organizations are floating the notion that it’s not a high priority any more. We beg to differ, so we came up with 17 reasons that $17 trillion in debt is still a big, bad deal....To Read the Whole Article.....

1. $53,769 – Your share of the national debt.

2. Personal income will be lower.

 3. Fewer jobs and lower salaries.

4. Higher interest rates.

5. High debt and high spending won’t help the economy.

6. What economic growth?

7. Eventually, someone has to pay the nation’s $17 trillion credit card bill, and Washington has nominated your family.

8. Jeopardizes the stability of Medicare, Social Security, and Medicaid.

9. Washington collects a lot, and then spends a ton. Where are your tax dollars going?

10. Young people face a diminished future.

11. Without cutting spending and reducing the debt, big-government corruption and special interests only get bigger.

12. Harmful effects are permanent.

13. The biggest threat to U.S. security.

14. Makes us more vulnerable to the next economic crisis.

15. Washington racked up $300 billion in more debt in less than four months.

16. High debt makes America weaker.

17. High debt crowds out the valuable functions of government.

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