- Never borrow what you cannot repay.
- Never borrow for a luxury if you cannot afford the necessities.
- Prioritize your borrowing.
- Reserve some borrowing capacity for emergencies.
$15 trillion dollars in stacked $100 bills ~ staceylandrum.com
Our national debt stands at $15.2 trillion, and is growing by roughly $6 billion per day.
We have tens of trillions in unfunded liabilities for Social Security, Medicare, and Medicaid.
Unfunded liabilities amount to $114.5 trillion - shown here in stacked $100-bills .
[According to the US Debt Clock, unfunded national liabilities amount to over a MILLION DOLLARS PER TAXPAYER. See for yourself.]
Back to Horowitz, and some "small potatoes" -- a mere $400,000:
Unfortunately, we have learned that Republicans lack the gumption to fight for transformational spending cuts and reforms of major entitlements. However, at the very least, one would expect them to oppose silly pork projects like Buffalo Soldiers!
Yesterday, the Republican-controlled House passed HR 1022, a bill that would require the Secretary of the Interior to conduct a study of the history of Buffalo Soldiers in the establishment of national parks. The study will cost $400,000.
The purpose of the study is to ascertain the feasibility of a plan to create a 200-mile trail between San Francisco and Yosemite National Park in commemoration of the Buffalo Soldiers. The federal government already owns roughly 1/3 of all American land. Do we need to afford them the opportunity to take over more land?
The bill was sponsored by Democrat Congresswoman Jackie Speier, yet Republican leaders agreed to bring it up under a suspension vote with limited debate. Even though a two-thirds super majority is required for passage, the bill passed easily with 338 votes. Only 70 Republicans opposed this inane endeavor....