The new $3.6 trillion budget includes a deficit of $1.2 trillion. One third of the budget is deficit spending, money we don’t have! That is on top of the $12 trillion we already owe.
How much is $1 trillion? Consider this: A million seconds is 11.5 days. A billion seconds is 32 years. A trillion seconds is 32,000 years.
Does anyone else see the flaw in this plan? If we paid down a dollar a second ($31.5 million per year) without borrowing another cent (and when did we last have a balanced budget?), it would take us more than 420,000 years to wiggle out of debt! Wait, thirty-one million is a rather low number. Let’s pay off a billion a year. That means we’d be debt free in only 13,200 years. Hmmm… okay, let’s pay off a hundred billion a year. We’d be free and clear in only 132 years. My grand children might live in a debt free, financially secure America.
Margaret Thatcher once said, “The problem with socialism is that you eventually run out of other people’s money.”
That hasn’t seemed to stop our president or congress.