Monday, October 20, 2008

debt clock! (and taxation without representation)

National Debt Clock

how fortunate we are to have our very own national debt clock! without it, we might actually do damage to ourselves!

[this topic will be periodically discussed on this blog, as it is an issue that is near and dear to us all.]

such a massive national debt is for [and creates] losers. one of the "collateral damages" of runaway deficit spending is a de facto u.s. policy of "taxation without representation." 

(the deficit is expected to be almost $1 trillion this year)

it is very simple: future generations, who have (and had) no say in our political or fiscal discourse, will be saddled to pay taxes for the mistaken policies and irresponsible spending of earlier generations.  this issue isn't about "liberalism" or "conservatism." it's about what is fair and just and economically sustainable.  simply put it is "taxation without representation."

until we actually reform our fiscal policies in the context of a "pay-as-you-go" concept, future generations will continue to pay taxes that we put on them.  

until then, keep watching that debt clock tick away!

"Reagan proved deficits don't matter." 
-Vice President Dick Cheney said to then Treasury Secretary Paul O'Neill, December 2002

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