Letter 09/05/12

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Trillion is a
two-syllable word

    Trillion is so easy to say. It’s become a common word in D.C. 
    Most people realize it is a lot of money.  The following analogy has helped many outside of D.C. to grasp the magnitude of a trillion: 1 million seconds is 12 days. 1 billion seconds is almost 32 years. 1 trillion seconds is 31,688 years!  
    1 billion to 1 trillion is a giant leap.  Let that sink in.  The Congressional Budget Office reports yearly US budget deficits for the last six years beginning in 2007 as $161 billion, $459 billion, $1.413 trillion, $1.292 trillion, $1.300 trillion and $1.327 trillion estimated for 2012.  This amounts to $5.33 trillion in the last four years.  The total national debt is $16 trillion not including trillions more in unfunded liabilities.   
    Last year Tim Maitski posted the National Budget on the Internet.  He eliminated eight zeros to reduce the figures to family budget size.  Family income became $21,700.; money the family spent this year $38,200.  Net debt on the credit card this year $16,500. Outstanding balance on the credit card $142,710.  Interest payment could take up to 40 percent of the income and repaying the borrowed money would never happen.  
    Should this family make some hard spending choices?  Is it selfish and cruel for this family to bind their children and their unborn grandchildren to this debt?   Poor family financial management creates family problems.  Poor national financial management creates national problems and results in a weak nation.  
    Who do you want the world’s leader to be?  China?  Russia?  If you prefer the United States you need to vote for individuals who will make the difficult spending choices.

Bob Cornell