Friday, December 18, 2009
The U.S raises limit.
The U.S congress is planning to increase its limit on the debt from 12.1 trillion to a higher amount. Which by the way is already over it. The U.S. is so far in debt that if they had the money in surplus, they could pay every tax payer 111 000 dollars. Now that's a stimulus packages we all would like to have. The number four thing they are spending this money on is the interest on the debt. If you think Obama can lower the debt then you're dreaming. Obama said that his first promise is to cut the deficit in half. This means that Obama intends to make the deficit around 750 billion dollars more than the U.S is spending on anything else including the entire defense budget (which includes the Iraq and Afghanistan war). Even if they stop spending on anything including the interest on the debt it will still take 6 years to pay off the entire debt. So I don't like this and you probably don't like this, but I think if the U.S invests in green jobs, have some reform on healthcare, stop earmarks and create a carbon tax. (note: I do not currently support Obama's health care bill with the public option, or something that triggers a public option)