Saturday, February 11, 2006

It's even worse than it appears!

During our last visit, I mentioned how Hannah and Audry were mildly concerned with their $140,000.00 share of the federal debt. This morning I read an article from the AARP Bulletin,(of course it's not my copy...I borrowed it from some old guy)in which the Office of the United States Comptroller stated the amount owed by each man, woman and child in the United States has increased to $156,000.00. And, if Kenn Gividen's calculations are correct, the girls will owe $1 million by the time they graduate from college if the nation's current spending spree continues.
Bear in mind that this debt is based on every person in the United States. If you factor in the number of tax consumers that are not, and will not be shouldering their "fair share" (cough,cough), it puts even more debt on each tax producer.
Of course, the AARP's solution is to raise taxes on the tax producers. I don't suppose there is any chance we might try to rein in some of this spending.

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