Total US Government debt now stands at $7.93 trillion, according to the Treasury Department. The debt has increased by $553 billion so far this fiscal year ending 9/30/05. About $2.3 trillion has been borrowed since 2000, a 40% increase in the total debt. Approximately $750 billion of that amount is money that is supposed to be building up in
our SS trust fund, but has been stolen by the politicians to fund their deficits instead.
http://www.publicdebt.treas.gov/opd/opdpdodt.htm
We are funding our tax cuts, our benefits, and our wars by borrowing massive amounts of money (roughly 25% of what we spend) each year from the next generations -- our children and grandchildren. On top of this massive and growing burden, they have to deal with boomers' retirement and health care costs, and whatever else the world throws at them.
We are failing our children, our grandchildren, and ourselves.
Why is this happening?
According to a recent Associated Press/Ipsos poll:
Only 35% would be willing cut government spending to balance the budget.
Only 18% would be willing to raise taxes to balance the budget.
Only 1% would be willing to raise taxes and cut spending.
http://www.kentucky.com/mld/kentucky...s/12491038.htm
Shame on us. And shame on the leaders of our government, who tell us noble sounding things like "This country has many challenges. We will not deny, we will not ignore, we will not pass along our problems to other Congresses, to other presidents, and other generations" -- while pandering to our greed and doing just that.
We truly are the pass the buck generation.