Tags: One | Reporter's | Opinion | Federal | Spending | Out | Control

One Reporter's Opinion — Federal Spending Is Out of Control

Thursday, 21 June 2007 12:00 AM

It is this reporter's opinion that our federal spending is completely out of control.

The federal government recorded a $1.3 trillion shortfall last year, far outpacing the official $248 billion deficit.

If we use corporate-style accounting standards, our government is hiding trillions in debt liability — amounting to an astonishing $516,000 per U.S. household.

If our government were a business or an individual, it would be bankrupt.

We were already badly battered even before Hurricanes Katrina, Rita, and Wilma made land fall, not to mention myriad other recent natural disasters.

Uncle Sam already owed $8 trillion. Federal outlays have increased by approximately 25 percent since George W. Bush took office.

Our nation's debt is rising by $600 billion per year and could reach $12 trillion by the year 2010. The interest alone would cost about $560 billion!

Here's an example of where we are headed. The cost of Social Security services for illegal aliens since 1996 is $400 billion.

One currency expert says according to the government accounting office every man, woman, and child in the U.S. is currently obligated to pay $145,000 to make good on Uncle Sam's financial obligations.

We continue to experience a deterioration in the finances of Social Security and retirement programs for civil servants and military personnel.

The loss — equal to $12,000 per household — is more than Americans paid in income taxes in 2006. Our taxpayers are currently on the hook for a record $60 trillion in liabilities which is an amount equal to $516,000 for every U.S. household.

Let's face it — America is facing an impossible debt load. We have transformed from the largest creditor nation into the largest borrower in all the world's history.

In the midst of all this, the president and U.S. Senate are determined to call in the disastrous Senate Bill 1348 which would grant amnesty to countless illegal aliens. This bill is the swiftest way to destroy America's middle class, creating a culture of haves and have nots.

It is time to put the brakes on runaway spending. Put a freeze on total federal spending — add a budget amendment to the Constitution, put an end to obsolete federal agencies, and conduct a complete audit of our federal government.

We as taxpayers have got to stop this federal spending binge, stop indulging in pre-emptive foreign wars, and demand that our senators and congressmen build a wall against violators of our sovereignty.

That is the only viable solution.

We have no choice but to act now. Stop runaway spending. Balance our budget. Put an end to foreign invasion. To do otherwise is to invite national suicide.

Democracies existed for approximately 200 years and follow the sequence — from bondage to spiritual faith, from spiritual faith to great courage, from courage to liberty, from liberty to abundance, from abundance to complacency, from complacency to apathy, from apathy to dependence, and from dependence back into bondage.

Pray to God that is not our fate.

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It is this reporter's opinion that our federal spending is completely out of control. The federal government recorded a $1.3 trillion shortfall last year, far outpacing the official $248 billion deficit. If we use corporate-style accounting standards, our government...
One,Reporter's,Opinion,Federal,Spending,Out,Control
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2007-00-21
Thursday, 21 June 2007 12:00 AM
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