With the all important mid-term elections only a week away, and the balance of power in the legislative branch of government at stake (currently controlled by Democrats), here are some startling statistics to keep in mind when you go to the polls.
- The estimated population of the United States is 309,365,748 so each citizen’s share of debt is $44,198.14. (Brillig.com/debt_clock)
- The National Debt has continued to increase at an unprecedented rate, an average of $4.15 billion per day since September 28, 2007! (Brillig.com/debt_clock)
- When children born in 2010 reach their 18th birthdays, they will have inherited an individual debt responsibility of $80,650. (Congressional Budget Office Report)
- If government spending is not immediately restrained, our nation’s public debt is projected to increase from $9.1 trillion in 2010 to $122.8 trillion by 2050. As a result, when children born today reach 40 years old, their share of the U.S. public debt will be $279,738—an increase of 859 percent above what it is today. For a family of four, the total household debt share would be approximately $1.119 million. (Congressional Budget Office Report)
- Unless drastic actions are taken to reduce spending now and in the future, debt will dwarf growth and future generations will be less prosperous than those that preceded them. (Congressional Budget Office Report)
- Obama’s first stimulus package, passed in his first month in office, will cost more than the entire Iraq War – more than $100 billion (15%) more. (Washington Examiner)
- The Iraq War accounts for less than 8% of the federal debt held by the public at the end of 2010 ($9.031 trillion). (Washington Examiner)
- The National Inflation Association has issued a warning to all Americans of a potential outbreak of hyperinflation in the U.S. by year 2015 caused primarily by the healthcare bill and rising interest payments on our national debt.
- The chief actuary for the Centers for Medicare and Medicaid Services, a division of the Department of Health and Human Services, has released a report showing that the new national health care law will increase health care spending in the United States beyond already unsustainable levels. (The American Spectator)
- Health insurers have already started raising premiums in order to offset the cost of the new healthcare overhaul. Some consumers could face total premium increases of more than 20%. (The Wall Street Journal)
- While President Obama promised Americans they would be able to keep their own health care plans if Obamacare was passed, the administration’s own actuary now shows the opposite is true: “Internal administration documents reveal that up to 51% of employers may have to relinquish their current health care coverage because of ObamaCare.” (Investors.com)
- The New England Journal of Medicine reported a survey that showed nearly half of America’s doctors are being forced to consider leaving their practice if ObamaCare is implemented. (The Washington Times)
- Sidestepping Congressional hearings where Republicans could expose his radical views, President Obama recess appointed Donald Berwick to run the Centers for Medicare and Medicaid Services and to implement his healthcare overhaul. Berwick is a fan of the broken British National Health Services and has publicly stated he favors rationing of care and redistribution of wealth:
So while the political ads, junk mail and annoying phone calls attempt to take your eye off what’s really important with petty personal attacks on the candidates, remember it is the future of our country and the legacy we leave our children that is at stake in this election.
All photos taken at the Tea Party Rally, Colorado State Capitol, March, 2010.