National debt just keeps soaring
I have a small balance left on my mortgage, a small amount left due on one of my automobiles, and I have no credit card balances. I was very happy with my credit position until I learned that I now have another debt of nearly $30,000 which I never approved. Yes, what a surprise. But guess what? So do you! The national debt has just surpassed $ 9 trillion, so with an estimated population of 300 million U.S. citizens (not counting the illegals), that equates to $30,000 per U.S. citizen.
The debt is increasing at $1.5 billion per day, and that amount is growing exponentially. The cost of the Iraqi war alone is approaching $500 billion. A war that will not lead to a democracy if you believe New York University's Adam Prezeworski's research. He studied every attempted transition to a democracy around the globe and found that only countries with per-capita income of over $6,000 achieve the transition, those between $3,000 and $6,000 only have a 50-50 chance, and those below $3,000 almost always fail. Well, guess what, Iraq has never had a per-capita near $3,000. Has no one in Washington learned from history? To complicate matters, we have destroyed a country's infrastructure and economy and still expect a democracy to emerge.
I have one question. Does anyone in America care about our debt or what our corporate Congress is doing to us and our country?
Leo A. Dietrich
Lake Villa