With the amount of money we've been spending, you'd think we'd have a little more to show for it. Better roads, schools, healthcare, something. Because right now, our national debt is approaching $9 TRILLION dollars. That's a lot of zeroes and it sure as hell is a lot of interest — somewhere in the neighborhood of $400+ billion annually to be exact.
Since George W. Bush has been in office, this shared tab of ours has gone up a staggering $3 trillion (for perspective, the ENTIRE debt never reached $4 trillion when his old man was in charge.) Why is this? Because we've had to pay for little line items like the war in Iraq and tax cuts for the wealthiest 1% of Americans. What gets me though is that of all the issues on the table, all the flubs this guy's made, this one seems to get the least amount of attention. People, he turned a budget surplus into a budget sinkhole. If this was a business, the CEO would have been shown the door a long time ago. And that rapidly accruing interest I just mentioned? It's not being paid to banks in this country. It's going to foreign lenders, like China, Japan and Saudi Arabia.
Contrary to popular belief, this isn't Monopoly money. It's cold, hard cash and the vig is running. Yet we don't seem to give a second thought to what this might mean for future generations. They may very well wake up one day to the realization that they don't own their own country anymore. We'll have gone from the richest nation in the world back to being somebody else’s colony.
So what do we do? Simple. It starts with sacrifice. We cut out programs we don't need. We stop spending money we don't have. We don't back tax cuts we can't afford. We quit putting billions into pork barrel projects. And we start slowly paying down that debt. We've done it before. We can do it again.