In a year of records, there is yet another inauspicious one to add to the books, the federal deficit. Not only is the highest ever on record, it is more than double that of 2007. Add that to the debt we've already racked up and you get an almost unimaginable figure, 10 trillion dollars. It's so big that it has rolled off the National Debt Clock near Time Square, forcing the owners to add another digit.
With all the bad news facing the US economy and the markets right now, most people may not even be aware of this gargantuan and growing pile of red ink, even if they are walking right under it.
"13 trillion dollars" "3 trillion dollars" "5 trillion dollars"
"I was the closest."
"I don't think I can think that high. I am not sure, umm what comes after the zillion."
"Er, I think it's like in the billions, close to the trillions."
All right, so everyone might not know just how big our national debt is, but they certainly have opinions when it comes to what's to blame and what needs to change.
"Because our Congress has spent too much money.
"Because we don't have term mobiles"
"All of us, we are not paying more attention to how money was being spent, so that we let things get very out of hand.Finding a cure to this growing epidemic might be easier said than done. For fighting two wars in the Middle East, or paying interest on our national debt, Entitlement costs are rising as population gets older, and remember those stimulus checks from earlier this summer? No, no, no, no, no, before the 700-billion-dollar rescue plan. Well, those cost 168 billion bucks, back to the 700-billion-dollar financial rescue plan. Well, let's just say that those costs have not yet been included in the Treasury Department's recent budget report.
Now here's a little food for thought. Did you know you can help bring down the national debt? That's right. You can make a contribution. Here's info. Go head. Send your check in.