Letter: Our soaring national debt
On Dec. 1, 2008, our national debt stood at $10.6 trillion. Now on Dec. 1, 2012, after four years under President Obama’s spending spree, our debt stands at $16.3 trillion.
And with a projected debt of $22 trillion by the end of 2016, at the current spending rate.
Now Obama, Harry Reid and Nancy Pelosi and company all want a tax increase on the wealthy to pay for their spending, with pie-in-the-sky future spending cuts. That’s like going to your favorite watering hole and seeing the sign that says “Free Beer Tomorrow.” The problem is tomorrow never gets here.
I now read where our Treasury Secretary Timothy Geithner wants an open-ended debt ceiling. Isn’t that like going to your banker and asking for a no-limit credit card, or checking account that you never have to pay back? I’m sure you’d be laughed right out of your banker’s office.
I hope and pray that this republic can withstand another four years of Barack Obama and Harry Reid and Nancy Pelosi.