A Legacy of Debt

February 21, 2011 08:59

The younger generation needs to realize that all of this debt (all fourteen-plus trillion dollars) will need to be repaid at some point in time and by someone. It isn’t just going to magically disappear.

By James Sharp at Canada Free Press


But if my elders were out there spending, not just all of the money that the nation has, but umpteen billions upon billions of dollars that it does NOT have, I would be marching on Washington DC demanding that they cease and desist immediately.

And the younger people are the ones that are going to be repaying it – one way or another. This is going to result in a decidedly lower standard of living than their parents and grandparents enjoyed. And it is going to enslave them to creditor nations – specifically, China.

The national debt – at over fourteen trillion dollars – works out to over FORTY-FIVE THOUSAND DOLLARS for EVERY man, woman, and child in America today.

This $45,000 debt burden comes before such “luxuries” as a new car, a home, student loans or, heaven forbid, a family. Imagine graduating high school and, along with your diploma, you are handed a bill for $45,000 – plus interest.


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