Filed under: Economy, Limited Government | Tags: debt, Fiscal Accountability, New Year
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.
Guess the federal government needs to make some New Year’s Resolutions of its own–and embrace fiscal accountability like the rest of us.