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National Debt - A Real Threat
Laura Zaborowski

Imagine your family's debt being 8X your household income. Even those that aren't 'numbers' people can grasp this level of debt is not sustainable. Well, that is precisely the level of debt our nation faces. The lack of self-control and discipline that has created this level of debt simply cannot continue.

On November 19th, over 100 area residents attended an extremely educational, and at times entertaining, program on the current National
Debt crisis to learn more about the crisis our nation is facing. Steven Wilson and Bill Plummer first provided a foundation, explaining the difference between the national debt and a budget deficit. Then they
exposed the irresponsible, deceiving accounting practices Washington uses to 'balance' the budget or even create a 'surplus' while putting our nation deeper and deeper in debt. At one point during the evening, Steven and Bill performed what they referred to as a One-Act -Play which drove home the point: Deficit Neutral does NOT mean Debt Neutral.

This is an important point to understand given the current discussion on the Healthcare Bill that some Washington politicians keep stressing is 'deficit neutral'.
The evening ended with a very dynamic 'open mic' session where attendees expressed their opinions. While there were certainly differing opinions on how battle the debt crisis, it appeared all were in agreement something needs to be done. If you were unable to attend this excellent program, you can view the program from these links:(Utube only allows us to post 10 minuet segments) Part 1, Part 2, Part 3,
Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, Part 10. You can also view the Power Point Presentation here.

Bottom Line

1. Give me a rough idea of how much our debt is and where we are going?

                                Nation's Debt         Your Share            Each Household
Now                              12 Trillion*         $40,000                 $100,000
10 Years                         24 Trillion**        $80,000                 $200,000
Including Future                56.4 Trillion***    $200,000                 $500,000
Unfunded Promises

*Actual number 11.99 Trillion; US Treasury, 11/9/ 2009

**Less than the Concord Coalition's plausible estimate and more than the August 2009 Congressional Budget Office's estimate.

***Source: Peter G. Peterson Foundation, 2009

2. So, what is the problem with this information?
"By 2030, there will be little room for……..national defense, homeland security, investment in
highways, and mass transit and alternative energy sources, plus smaller entitlement programs
such as Supplemental Security Income, Temporary Assistance for Needy Families and farm price
supports." The alternative projection in the same report shows this situation occurring by 2019.

Source: Government Accountability Office, Fall 2009, Update on The Federal Government's Long Term Fiscal Outlook

3. So what is the bottom line for me as a citizen of the United States?
"This issue represents the potential fiscal meltdown of this nation and it absolutely guarantees
if it's not addressed, that our children will have less of a quality of life than we had, that they
will have a government they cannot afford and that we will be demanding so much of them in
the area of taxes, they will not have the money to send their kids to college, buy that home or
just live a good quality of life."

Source: Quote from Senator Judd Gregg; Ranking Member, Senate Budget Committee

Self control can include tough choices. Please support reducing the debt of our
nation and increasing the personal savings of your family.

This document was compiled by Bill Plummer and Steven Wilson, individual citizens like you.