much of which went to pay for tax breaks for People Who Make $150,240 an hour.
Got my newsletter from Citizens for Tax Justice Saturday and their lead article stunned me. The Republicans have borrowed $2.4 Trillion in the last 5 years. Of that money $825 Billion was borrowed from the Social Security Trust Fund.
For details of the CTJ Report see: http://www.ctj.org/...
For who makes $150,240 an hour see: http://www.dailykos.com/...
Remember: 99% of American are Net Tax Losers under Bush Tax and Spending Policies. See: http://www.ctj.org/...
Also remember the Congressional Budget Office (CBO) predicts $8.5 trillion in borrowing in the next 10 years (2006-2016)(another $28,300 per American). See: http://www.ctj.org/...
If there are 300 million Americans, $2.4 Trillion Dollars of debt is $8,000 for every American. That much debt from just the last 5 years. And that number will grow as the interest is added. In fact if the principal is not repaid (which it is not) our government will pay about 5% on the money it borrows. The interest on the debt from just these 5 years grows $400 a year per American (or a dollar a day per American).
Citizens for Tax Justice is a great organization. See their home page at: http://www.ctj.org/
Consider Joining CTJ at: http://www.ctj.org/...
From a social justice perspective, borrowing from the Social Security fund, which provides financial support and healthcare to our most vulnerable elderly, to pay for tax breaks for People Who Make $150,240 an hour is sick.
$36,000 in debt, for every American, for the Bush policies is not acceptable.