US Savings Bonds

Archive for the ‘Savings Bonds for Education’ Category

Question: When do tax cuts turn sour?

OK, so no candidate can successfully campaign on raising taxes, unless it’s the other guy’s. But after eight years in office and two tax cuts later, Bush has increased our national debt from three trillion to nine trillion dollars, with another half-trillion next year. Interest alone on the national debt is 400 billion EACH YEAR and rising. Next to entitlements and defense, it’s the third highest item on the budget. That’s our money, too, money that cannot go to defense, security, infrastructure, education, medical care, etc. Plus, much of the interest goes to bond holders in the Middle East and in China. It’s a debt we leave to our children and grandchildren. It’s a threat to the value of our currency. Too much debt and we deflate our currency, degrade our savings (those of us who have some.) I say spend less and tax more. (Bet you’re glad I’m not running for office.)

Answer: Bush is the first president to cut taxes while waging a new war.

Obama has said that he will tell the people what they need to know – not just what they want to here. – I hope he will have the courage to say just how broke our government is –

The true size of the deficit has been masked by the borrowing of the surplus being paid into the social security trust fund (which is supposed to be available to help fund the retirement of the baby boom generation) – but the government has no plan in place to pay it back when it is needed to pay benefits. The person asking the question correctly focuses on the rate that the national debt has been increasing – rather than phony figures for the size of the annual budget deficit which ignore off budget items like the cost of the war, and borrowing from the social security trust fund.

This week at Nasa 10-10-08

This Week @ NASA 10-10-08