What about the debt?

To the editor:

Democrat members of the 117th Congress have introduced bills that have had spending in the trillions of dollars.

The Congressional Budget Office in the review of the bills has estimated that the cost will exceed the trillions that is requested.

President Joe Biden’s Build Back Better Act was introduced at a cost of $3.5 trillion, now it has been scaled back to $1.7 trillion.

For those who aren’t paying attention to what our representatives are doing, here are some facts to consider when they talk about spending your tax dollars. We in the United States have a budget deficit: “A budget deficit occurs when a country, business or individual spending exceeds income. The debt, must be paid. The debt grows when interest on the debt is added to the debt-the interest on the public debt for fiscal year 2021 is estimated to be $413 billion, according to the CBO.” (Monthly Budget Review, September, accessed Oct.15 by the balance.com.)

“The United States currently has $125 trillion (yes, trillion) in unfunded liabilities. According to the nonpartisan Congressional Budget Office, the U.S. debt held by the public will reach 100 percent of GDP in 2028. In 2008, interest on the federal debt was $253 billion.” — fee.org

Here we are trillions of dollars in debt, so what is a trillion dollars? “Well, it’s a million million. It’s a thousand billion. It’s a one followed by 12 zeros. It’s 10,000 pallets, each stacked with $100 million in $100 bills. ($100 bill is currently the largest U.S. denomination in general circulation.) onetrilliondollars.us. By the way, there are no trillionaires in the United States, or the world for that matter. Every state in the union has to introduce a balanced budget by year’s end, it is the law. The last time the federal government presented a budget which spans Oct. 1 to Sept. 30 of the next year was in 1997. The Congress uses a temporary fix called the continuing resolution. From the fiscal year 1998 to 2022, 126 such resolutions have been enacted.” — www.pgpf.org

What is going on in our nation’s capital with the spending of our money, which we don’t have, is criminal and unlawful actions being perpetrated on the American taxpayers. Like the smash-and-grab looters on the streets of America, we have politicians in Washington. Where is someone who will hold these criminals accountable?

Merica Petrella



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