Letter - We need fiscal responsibility

To the editor:

The National Debt Clock is a billboard-sized display that constantly updates current United States gross national debt and each American family’s share of the debt. It is located on Sixth Avenue in Manhattan, New York City.

The clock reflects the outstanding public debt of our country as of April 10, 2012, as $15.625 trillion; more than 100 percent of our gross domestic product. The estimated population of the United States is 312,561,527, making each citizen’s share $49,990.86.

The national debt has continued to increase at an average rate per day of $4 billion since September 28, 2007.

Besides the national debt, which is owed to private investors, government trust funds, international investors, the federal reserve and state and local governments, the federal deficit (difference between what government takes in and what government spends) is estimated by the Congressional Budget Office to be $1.2 trillion in fiscal year 2012, if nothing is done to significantly affect spending or revenues.

No more bailouts, no more guarantees or risky loans, no new programs, no new bureaucracies. In fact, let’s eliminate some things. We need fiscal responsibility in this country. Who is going to pay for all of this?

Shelly Nelson

Alexandria, MN

Tags: opinion, letters