Obama's Debt Is Going to Destroy Our Nation

As of Sept. 30, 2009, the national debt was almost $12 trillion and interest on that debt was $383 billion for the year, according to the Treasury Department's Bureau of the Public Debt. The White House Office of Management and Budget (OMB) estimated total government revenues at about $2 trillion, of which $904 billion is from individual income taxes.

That means that 42% of the tax money that you send to Washington is simply being used to cover the interest on the debt. The other 58% of the tax money that you work so hard to send to Washington is being used to provide more and more and more government services and to issue more and more government promises that are going to lead to to more and more debt. The principle on the balance is not being paid back, and there is no intention for it to ever be paid back.

In the first year of Obama's administration, the debt grew at a record pace. The Congressional Budget Office on Oct. 7 estimated the 2009 budget deficit to be almost $1.4 trillion- that is a stunning amount of debt to add, especially when our nation did not have to deal with a hurricane or terrorist attack or war- the only disaster that hit our nation in 2009 was Barack Obama being elected President.

I know my math is probably too simplistic- someone with an economics degree needs to correct it- but if $12 trillion in debt= 383 billion in interest, that is $32 billion in interest per trillion. Obama intends to add to the national debt over the next 10 years another 9.7 trillion (his own spending plans called for another 11.1, and he's already dropped 1.4, so that equals 9.7). That will mean another $310 in interest. If the economy does not recover and tax receipts do not surge (in fact, they shrank this year), then that means that the government will pay $694 in interest alone, while only collecting $904 from taxes.

If we continue Obama's policies for another 16 years, our nation will be in debt $29 trillion dollars and owe $907 per year in interest. We will owe more in interest than we bring in in taxes. If we continue Obama's economic policies another 20 years, the interest we owe on our debt will be greater than all revenues combined. America will be destroyed.

The numbers are sobering, even if my math is wrong. Obama's policies are going to economically destroy our nation in a fire of debt and interest. Anyone who supports his policies or his Democratic allies's are destroying the hopes and future of your children and grandchildren, who will have to live in a country that is bankrupt beyond any hope of ever emerging.

Obama's policies are going to send our entire nation to a debtors prison from which we may never again emerge.