Congress has lied and obscured the facts of their depravity so completely, that I don not think anyone really understands how bleak the the situation really is.
But never fear, Steny Hoyer, the proud Tax and Spend Democratic House Majority Leader wrote today in the WSJ that shared sacrifices are necessary to solve the debt crisis.
Yes we have a debt crisis, but the bigger issue, the one that he and the other progressive nitwits in Congress need to take full responsibility for is their unprincipled, pork laden, unbridled, socialistic SPENDING!
For instance, did you know the following:
$12.9 Trillion in debt – US National Debt Clock
40% of all 2009 income taxes will be applied to pay the interest on our national debt – US National Debt Clock
$700 Billion is the estimated interest payment in 2019 - The Washington Examiner
$108.4 Trillion in unfunded liabilities - US National Debt Clock
$2.7 Trillion state pension liability - The Pew Charitable Trusts
$400 Billion blank check to Fannie and Freddie - Wall Street Journal
300% the increase in the number of dollars in circulation since July 2008, from $800 Billion to $2.4 Trillion - Federal Reserve
17% to 22% true unemployment rate - NY Post
In order to survive, we need across the board cuts of at least 20%, including the total disembowelment of some programs (I would recommend Obama Care and Farm subsidies right off the bat) and we need to do it now!
