Most working people do not enjoy being in debt. In fact they donít want to be in debt and will make sacrifices to get out of debt. Once out of debt they feel relieved, free and not beholden to anybody. However the working people do not consider the governments debt as their own and just ignore it. This is a big mistake.
The working people are the cash cow for the government. They pay the majority of the cost of the government. Corporate taxes are paid by the working people when purchasing items furnished by the corporations so the working people can say they pay the bills.
The federal government is in debt at 16 trillion dollars and this debt increases at the rate of 1.3 trillion a year. Right now every man, woman and child owes $50,000.00. A family of four owes $200,000.00. This family has to pay this debt and this will be in the form of higher taxes. So if they bought a $200,000.00 house with $1000.00 monthly payments for 30 years then this is the amount the government is going to raise their taxes. Even though the family got themselves out of personal debt Obama has put
them into real debt without anything to show for it. Not even a thank you.
So when Obama says we donít have a spending problem but a revenue problem, the working man better hold on to his billfold.