Rooted in Reason: Nurturing the Seeds of Liberty


New Year’s Resolution: No More Debt by grassroothawaii
December 28, 2010, 12:51 pm
Filed under: Economy, Limited Government | Tags: , ,

By Frances Nuar

Only a few more days till fireworks, champagne, and the official ringing in of the New Year! For most people, that also means time for some good old New Year’s Resolutions, eager to make 2011 the best year yet. High on the list for many is getting out of debt, no surprise considering 76% of Americans have some form of personal debt. I applaud you if responsible spending and fiscal accountability to your bank account is high on your list this year.

Unfortunately though for all of us, getting out of debt completely is going to be harder than anyone thought. According to the US Treasury, we are all one of the 100% of Americans who have $44,886.57 in public debt. And thanks to the 111th Congress, $10,429.6 of that was added just in the past few years.

“The federal government has accumulated more new debt–$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury.”

Guess the federal government needs to make some New Year’s Resolutions of its own–and embrace fiscal accountability like the rest of us.

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[…] promised would increase transparency and decrease Federal spending, a welcome change from the 111th Congress which accumulated $3.22 trillion in debt–more debt than the first 100 Congresses […]

Pingback by Welcome, 112th Congress « Rooted in Reason: Nurturing the Seeds of Liberty




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