It’s official. Obama’s deficit spending for his first term, $5 trillion. This is why there’s a Tea Party. This is why the 2010 midterms happened. Five trillion in deficit spending added to the national debt. Now, I remember when I was 15, 20 years old, I remember the adults that I knew and hung around, my parents’ friends, were always worried about the national debt. This is in the 1960s, the early seventies. I constantly remember hearing them worried about the national debt. Of course I wasn’t. I wasn’t old enough to even really understand what it was, but as I got older and I kept hearing people talk about it, I said, “For my whole life I’ve been hearing about the national debt and how it’s gonna crush the country. It hasn’t happened so it must not be that big a deal.”

Well, guess what I’ve become? I have become one of those people that’s now very much concerned about the national debt cause it’s never, ever been anywhere near as large as it is expressed any way you want, as a percentage, total dollars, or what have you. We are nearing collapse. The old adage was the national debt never really mattered because we owed it to ourselves, therefore we never really had to pay it back. But we don’t owe it just to ourselves now. We owe it to the ChiComs. We owe it to the Japanese. We owe it to a lot of people who expect to be paid back, who expect their interest payments to be made. So it’s not just something that we owe ourselves and can forget about or forgive or what have you. It’s a far greater problem because the tax rates required to make a dent in this, coupled with the spending cuts that nobody so far has had the guts to propose or implement, are unthinkable to a lot of people.

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