President Obama will host who? Hu!

Terra Cotta Warriors

In a couple of weeks President Obama will host China's President Hu Jintao at the White House. I wonder if he is making a house check to make sure it wasn't a phony address used on the loan application? Folks, can you wrap your mind around this figure - $14.3 Trillion? Congress is going to have to make a decision to raise the Federal Debt Limit very soon and it isn't going to be easy no matter which side of the aisle you sit on.

Since 1961 the Federal Debt has increased each and every year. I think after awhile the figure gets so big it just becomes Monopoly money and you lose all sense of reality. It's funny that back in 2006, only five years ago, then Senator Obama voted against raising the debt limit to $9 Trillion, citing our ongoing dependence on foreign countries to finance our government's spending as reckless. Oh, oh and now it is almost double that amount!

I'm not an economist [thank god] so just know that my opinion is just that, a totally baseless opinion, but...if I was massively in debt in my own little household, my solution would be (1) to look for ways to increase my income and (2) to decrease my spending and (3) start paying down my debt as fast as I could.

I may be the only person in American that thinks we need a special tax levied to pay off the war debt. Now I know that everyone can't even stand to pay one dollar but there are lot's of people that can and should, including myself. But instead of raising taxes (increase income) the government passes tax cuts (reduces income) and soon they will pass legislation to increase spending, that's a double whammy. Don't give me arguments about stimulating the economy and other mumbo jumbo, it just confuses me. I'll buy Boardwalk, thank you. What! Pay a Luxury Tax?

The debt limit will be raised, because if it isn't we won't have the money to make our loan payments, that's called being in default. If the U.S. defaults on its loan the World economy will go into a tailspin. Seriously. So there will be lot's of discussion but in the end it will look like cuts in spending but remember it's Monopoly money, not really real, and the debt will be raised.... and round and round the board we go. Do not pass GO, go straight to jail! Yikes.

You know who (Hu) is coming to visit and now you also know why. Just to make sure 1600 Pennsylvania Avenue is a valid address.

Local Note: Just this week I got a mailer from my Congressman W. Todd Akin (R) from Missouri. It was very pretty, a full color brochure, measured 11" x 24" on thick, shinny paper stock, with several pictures of my Congressman and a beautiful quarter page picture of our Capitol all lit up at night. It was folded in fourths with a one quarter section devoted to a questionnaire on how I felt about the economy / jobs / taxes / energy / healthcare / housing crisis / the deficit etc. I read it, answered the questions, affixed two stamps just to make sure (it seemed over-sized) and now it's on the way back to Congressman Akin (R) Missouri. I mention all this because I noticed on the front of the mailer in very small letters these words: "This mailing was prepared, published, and mailed at taxpayer expense." Now I find that rather ironic. Not to worry it's just Monopoly money, right?

P.S. I didn't vote for him, so don't blame me 'cus he spending your money.

Recently added so you could see for yourself first hand. Nice isn't it?

   

All important fine print in lower left hand corner.