Letter: $23.1 Trillion with a capital 'T'
Recently, the unemployment rate in Duluth, Minn. hit 10 percent. The report of gross domestic product for the last quarter showed a decline of 6.3 percent -- a very bad economic indicator. Today Chrysler is taken over by the U.S. government and essentially given to the United Auto Workers.
Scanning the financial pages, one sees stories of job cuts occurring everywhere.
In the first 50 days of the Obama presidency, Democrats passed or proposed nearly five trillion dollars in new spending -- a nearly $2 trillion deficit this year. (It is) an incomprehensible, astounding rise in our national debt, over $23.1 trillion over the next ten years.
If you are old enough, look at your grandchildren. Yesterday, you took them to the mall and bought them ice cream. Today you gave them each more than $100,000 in increased debt and taxes to look forward to. Nice trade-off?
Actually, for all who remember Bush, whether fondly or not, what this means is that Barack Obama, in a matter of weeks, has inflicted more debt on the people of America than all of his predecessors, from George Washington to George W. Bush, combined!