As we Americans sit on the side lines as the House just passed its Affordable Health Care for America Act by a vote of 220-215 Saturday evening, at a cost of $1.055 trillion over the next 10 years, I have to wonder how many Americans know the real ramifications of this incurred expenditure by our American government, directly at a cost to we, the American people?
According to "Whatever Happened to Penny Candy?" by Richard J. Mayberry, in 1992 our Federal government was on their fourth trillion dollars of debt at an annual interst payment of roughly $1,097 per person per year, which meant the average family of four paid $4,388 per year just for interest on the federal debt. Any money the government does not save is money that is not available for businesses to use to hire workers or to buy the equipment it needs. The government's spending has been much greater than its income that it has been borrowing a million dollars every two minutes. This soaks up money that should be going to businesses for tools to create jobs. Divide one million dollars by $86,000. The governmnet's deficit consumes 6.4 jobs every two minutes; it wipes out 1.7 million jobs per year. This is damage from the deficit alone!
How can we, as Americans, afford the incurred cost of a $1.055 trillion Health Care for American Act? How can our government afford to create new debt, when it can not pay off its existing debt? I only hope that all American persons realize that "Governments have no real wealth of their own, they only have that which they have taken form others."
Peninsula Clarion ©2015. All Rights Reserved.