- The Washington Times - Wednesday, December 26, 2012


We all know about the $16 trillion national debt. Now it turns out that when unfunded liabilities are added, the debt increases to more than $80 trillion. That certainly qualifies as the “big picture” and looks impossible to deal with. So let’s focus instead on a smaller picture: our annual deficit.

Annual expenditures exceed annual revenue by about $1.3 trillion. President Obama wants to squeeze $1.6 trillion out of the wealthy over 10 years. That would bring in less than $200 billion per year in additional revenue, dropping our annual deficit from $1.3 trillion to $1.1 trillion. But the Democrats don’t want to cut any costs. In fact, they — and certainly Mr. Obama — want to increase the spending level. So nothing will get done.

Perhaps we should focus instead on a smaller picture. How about the murders of four Americans in Benghazi, Libya?



Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide