Monday, February 15, 2010

National Debt

The national debt is at $40,079 per person. How in the world can that ever be paid off. A family of five would have $200,000 debt. That is like making house payments for over 30 years. There were a couple of years during the Clinton administration that there was a surplus. The Iraq war caused the national debt to climb. If the interest rate goes up it will take more money to pay the interest. When a family can't pay their bill, the they are taken to court. Their income is garnished and then those that pay them have to pay their bill to about 25 percent of income. A court order to garnish the income of those that are in or have ever been in congress and on capital hill would be in order to start paying of the debt. If that happened, maybe congress and capital hill would pay the bills as the go.

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