Monday, April 17, 2006

Another "Tax day"

The taxes of most Americans are due today...

It is getting to the point to where I think another "Tea Party" may be in order...

The Libertarian Party of Allen County will be passing out flyers to inform the public about The National Debt at the downtown Post Office in Fort Wayne tonight...

The actual National Debt is about 8.4 trillion dollars by cash accounting. In other words; the government currently actually owes 8.4 trillion dollars. This is money the government has borrowed.

The government forces almost every business in The United States to keep track of its finances by "accrual" accounting. Accrual accounting tends to give a much more accurate figure about your financial situation...

If you use accrual accounting the National Debt is ABOUT 72 trillion dollars by current estimates. In other words, the government would have to borrow ANOTHER 63.6 trillion dollars (72 - 8.6) today and invest it just to be able to pay for all of the promises they have made.

What is worse is that they keep making bigger and bigger promises every year...

Mike Sylvester

7 comments:

young_activist said...

The debt is the biggest crisis facing America today. Sadly it also one of the most ignored issues. I fear that the general public will only care about this issue when the damage is irreversible. We need to band together and let the politicians know that their actions are unacceptable. Help me fight the debt. http://payyourshare.blogspot.com/

Jeff Pruitt said...

Mike,

Yesterday two Republican senators from Mississippi (including Trent Lott) added $700M to an emergency war spending bill.

This $700M will be used to relocate a railine that has ALREADY been rebuilt after Hurricane Katrina at the cost of $250M! This is an earmark giveaway to coastal developers.

Will the Republican party stand up and pass earmark reform? I seriously doubt it. The real question is will the American people continue to not hold them accountable...

John Good said...

Jeff,

That's completely ludicrous. I think 2006 will become the "Democratic Revolution" just because of issues like this.

Mike,

See why I thought the Clinton Street Bridge was reasonable now?

LP Mike Sylvester said...

Jeff:

I agree with you. The Republican are a BIG government party.

John:

No, Pork is Pork. We need to do away with it all...

Mike

John Good said...

Mike,
Since my introduction to HellPig, I have to agree with that remark.

Andrew Kaduk said...

Awwww, HellPig is cuddly and cute. Just pet his head and keep your fingers away from his snout.

LMFAO

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