“Less than one week after the U.S. national debt surged past the $13 trillion mark, the Reuters headline warned ‘U.S debt to rise to $19.6 trillion by 2015.’
“This unsustainable mountain of borrowed money will quickly bring the ratio of debt to the gross domestic product (GDP) to 102 percent by 2015 from 93 percent this year. Which means the amount of money owed to our creditors such as China and Japan – will exceed the total value of the goods and services we produce.
“Of course, we must pay interest on that debt. And that is money we cannot use to provide one small business loan, close our borders to illegal aliens, provide security sensors at our ports, or train, equip and better protect one soldier or Marine.
For More from Congressman Frelinghuysen Click Here
Read the Reuters story “U.S debt to rise to $19.6 trillion by 2015 Click Here.
Recommended Reading II: Please read an insightful article from the June 8 edition of Forbes: “The Dark Side Of Stimulus.”
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