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The Verde Independent | Cottonwood, Arizona

home : opinions : opinions May 24, 2016


11/27/2012 1:03:00 PM
Letter: Do the math, we’re buried in debt

Editor:

Please America, wake-up! The financial status of the United States is unsustainable; in other words if we continue: even if we do not borrow any more money from anywhere, the interest obligated on the national debt will bury this nation as we know it.

Just a few simple mathematical calculations should be enough to bring any thinking person out of their rosy dream-world and make them realize this is too much and we have got to cut spending now, not in 10 years.

The national debt is in excess of $16 trillion, so let’s use that as a base amount and figure in some hypothetical interest rate figures and time.

$16 trillion to figure 1 percent equals $160 billion and since the interest rate is figured on an annual basis; that is what we would owe each year if we were paying only the interest, (nothing to reduce the debt) and at the rate of only 1 percent, which no one that I’ve heard of, lends money at that low rate generally 3 percent minimum.

So let’s take this a little further; figuring only the interest; not paying anything at all to bring down the principle. Three percent of the $16 trillion is equal to $480 nillion. Let’s calculate: cost per day: $1.39 billion for the interest each and every day.

If you have the mistaken belief that we can just print more money, think about this. Presently, the United States dollar is the World Reserve Currency and in the last couple of years our credit rating has been lowered, and the other nations of the world are getting spooked about the stability of the U.S. currency.

If our credit gets lowered again we could be in big time trouble. This debt can collapse this nation as we know it and if it does, it will be too late to think about saving this beautiful, glorious nation that our ancestors worked so hard to build for us, many fought, a lot of them died or were severely wounded and some have never been found, all this so we can call this place home.

God Bless the USA and take control or our leaders’ decisions and bring them in line with your desires. In Jesus’ mighty name I pray.

Dale Gohr

Clarkdale



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Reader Comments

Posted: Thursday, December 6, 2012
Article comment by: nutso fasst

@ itsy bitsy Spider:

In 1993, the year of Clinton's tax hikes, federal expenditures (adjusted for inflation) were $2.076 trillion. In 2012 they were $3.563 trillion. In order to match the situation at the beginning of the Clinton years, not only would tax rates have to rise overall, expenditures would have to be slashed by nearly $1.5 trillion THE FIRST YEAR (not the proposed $1.2 trillion over 10 years). Since more than $1 trillion of the increased spending went to entitlements, good luck with that!


Posted: Monday, December 3, 2012
Article comment by: M J

Re: Verde Voter
I agree when U say "We want this debt paid off immediately by all reasonable means."

I Do Not agree when U say "And that does not mean social programs or consumer protection agencies cut."

There is NO WAY out without cutting social programs and entitlement programs .... NO WAY.

barry is gonna have ta bite the bullet on this one..... of course he won't due to his arrogance ..... so DOWN we go!!!!
♪ DOWN ♫

♫ DOWN ♪

♪ DOWN ♫

♫ ROCK LOBSTER ♪


Posted: Saturday, December 1, 2012
Article comment by: Verde Voter

Yes indeed we need drastic action now. First END THE BUSH WARS. Second. END THE BUSH TEMPORARY TAX PROGRAM. Next. Everyday the congress does not act and work? NO pay. Cut their benefits first. They will be on the same National Healthcare System as all Americans. They will not get retirement. They will not get lobby money. Next we need creative thinkers. We want this debt paid off immediately by all reasonable means. And that does not mean social programs or consumer protection agencies cut.

Posted: Saturday, December 1, 2012
Article comment by: Tina Vigilante

Republicans are sore losers, where were you when GW was running up the debt? No Teabaggers in sight!

Posted: Friday, November 30, 2012
Article comment by: itsy bitsy Spider

Yes, Miss Anderson, let's look at history.

Under Clinton, you were paying more in income taxes. Everyone was. The so-called "Bush tax cuts" simply reduced the Clinton tax increase to a level above what everyone was paying before Clinton took office.

Also, even with the largest single tax increase since WWII, the country began slipping into a recession before Clinton left office. All Robert Rubin's wizardry couldn't stop the Dot-com bust whereas, George Bush's tax reductions seem to have helped level it out.

History tells us the Bush II years were prosperous, even for those who lost their shirts in the mini-crash. This fact doesn't thrill me. I think Bill Clinton was an excellent President, especially in his second term. I don't think much of The Shrub. However, no one is doing the Obama Administration any good by pretending Bush's people didn't know what they were doing or by ignoring the fact Rubin's smoke and mirrors contributed to the housing crash.

The election is over, Ms. Anderson. It's time for all of us to crawl out from under our selective blindness and hope the President finds better cabinet ministers than he's had for the last four years.


Posted: Friday, November 30, 2012
Article comment by: Peter, Yavapai County

Recipe for fiscal balance:

1. Raise taxes.

2. Cut spending.

3. Repeat until balance is achieved.

Note to voters: If your representative doesn't follow the recipe, fire them in the next election.


Posted: Friday, November 30, 2012
Article comment by: MJ's plan to reduce the debt... .

step one... make fun of president elected with larger majority than last guy who claimed 'political capitol'...

step two...sing la la songs while insulting others to make him/her-self feel better

step three... rinse and repeat.

Please...Proceed...Please Please Pretty Please...Proceed...


Posted: Friday, November 30, 2012
Article comment by: M J

barry's plan to reduce the debt:

Step 1:























Posted: Friday, November 30, 2012
Article comment by: samantha anderson

I love how everyone is talking about the fiscal cliff. But nothing is getting done about it. Why shouldn't people who are making more than 250,000 a year pay more taxes. I am barely making it pay check to pay check. If I have to pay more in taxes what is the point on me even doing anything it would be cheaper if I go on welfare. I am sorry to say that the GOP is to blame for this. When Clinton left ofice we had a actual surplus but in the bush years that surplus decreased. As an american I think people really need to look at history to see where the lines are drawn.


Posted: Thursday, November 29, 2012
Article comment by: Lee Cali

It sure looks to me that readers aren't buying the Barber and Gohr way of calculating anymore. Guess our readers got a bit smarter going through this election season, with fact check after every speech and debate. Hurray!

Posted: Thursday, November 29, 2012
Article comment by: Phil Falbo

Perhaps, Dale, our leaders' decisions already are in line with God's desires.

No human has a clue as to the desires of God.

Maybe the current US economic situation is God's modern way of casting out the money changers.


Posted: Thursday, November 29, 2012
Article comment by: Mr Maverick

We have always had debt even under George Washington. So chill and leave the financial business to those who know how to manage our debt. It took many years to get this debt and it will take years to get rid of it. It won't happen in one year.

Posted: Thursday, November 29, 2012
Article comment by: Johnny Johnson

Thank God and the GOP who have drawn the line in the sand and will protect the wealthiest from paying more in taxes. We will show that dern Obama and all them godless dems.

Posted: Thursday, November 29, 2012
Article comment by: Actual debt closer to $87 trillion

The figures are reliable and come from both the Social Security and Medicare Trustee's annual reports.

http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html?KEYWORDS=actual+debt#articleTabs%3Darticle


Posted: Thursday, November 29, 2012
Article comment by: There is help

85 Trillion, seriously?! Sombody needs to stop listening to Fox news, youtube blurbs and what other source and get a life, geeesss

Dale and "worse than this" there is help available you might want to check out community mental health services because your paranoia is getting worse.



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