Congress Ignores National Debt Crisis, Increases by 8%
WASHINGTON: The Treasury Department stated that the US Debt reached $13 trillion for the first time in history on June 1st. Just six months ago the debt topped $12 trillion for the first time. The increase in just 6 months was 8%.
At this rate our debt will reach $14 trillion by the end of the year, increasing the national debt by 16% in one year. The US GDP was only $14 trillion in 2009, our debt soon will exceed the entire economy of this once great nation and the rate of increase is accelerating.
You or I could never dig ourselves out of this kind of debt, only the government can, and they will do it by inflating the currency. Back in November the NIP has warned about the dire consequences that await us if we pursue this course. This should give concern to every American. Our elected representatives need to be sent packing. Faced with our massive deficit, this Congress apparently subscribes to the Alfred E. Neuman school of philosophy, “What, Me Worry?” At the NIP we too are beginning to see Mr. Neuman as a viable candidate. His campaign slogan of 1956 still rings true today, “You could do worse… and you always have!”