Forbes: ‘Families struggling to pay their bills’ the ones who have the most to lose if we don’t tackle our national debt
The sheer magnitude of our national debt is mind boggling but something we have to address for the sake of our nation and for the sake of those most vulnerable in the event of a financial crisis.
Since President Obama took office in 2009, the debt has grown by $9 trillion, or 85%. Today, it clocks in at over $19.6 trillion. In the last fiscal year alone, our national debt rose by $1.5 trillion.
These numbers may seem difficult to comprehend for many families struggling to pay their bills, but it’s those individuals who could be hurt the most if we keep letting the debt spiral out of control.
In 2030, by the time current kindergarten students enter college, our debt is on track to reach 116% of GDP. By 2040, the percentage jumps to 151.
America can’t afford another credit downgrade and to continue racking up debt that leaves us vulnerable to borrowers in foreign nations and an impending crisis that would most hurt families just making ends meet. Click here to get involved and help Tea Party Patriots urge our leaders in Washington, D.C. to rein in spending before it’s too late!