Our government now owes more money than all of us in the country put together possess. We now owe nearly $57 trillion while our net worth is $56.5 trillion, Obama's trillion dollar bailout
President-elect Barack Obama has said that we can expect a trillion dollars in additional debt each year as far as the eye can see into the future. Soon Obama will ask Congress for an additional trillion dollars to bail out certain large companies.
Remember when they gave $350 billion to the banks? That money is gone and guess what? The banks cannot or will not tell us what they did with it.
Obama's trillion dollar bailout
Obama's plan, being promoted by Democrats and Republicans alike, is to pass out money, running up debt that our grandchildren will be forced to pay. Their solution is simple. Throw more money at the problem.
Where will the government get these trillions of dollars? They will go to the printing press and print more, which means that dollar in your pocket will be worth less.
It also means the government will borrow more. From whom? Try China and the rich oil producing countries. At the rate we are going, China will never have to fight us. They will own us.
Our leaders, if that is what you want to call them, are unwilling to call us to bite the bullet and pay the price for our irresponsible financial behavior. It is immoral to pass this debt on to our grandchildren.
The time to act is now, before it is too late. While it may be painful now, failure to act will be deadly in the future.
Rev. Donald E. Wildmon is founder and chairman of American Family Association and American Family Radio. AFA is a pro-family advocacy organization with over two million online supporters and approximately 150,000 subscribers to its monthly flagship publication the AFA Journal .
