Financial Mess
The Government Accountability Office can't certify the books of the Pentagon, Department of Homeland Security, or the Energy Department.
Recently, our government paid $38 billion to the wrong people, and $20 billion just disappeared. The GAO says the Pentagon is the biggest culprit, losing track of billions. The Defense Department acknowledges its bookkeeping problems and claims it’s trying to fix them.
Our government not only failing to keep track of our money, but it's borrowing huge sums to spend money it doesn't have. Last year, we paid $327 billion in interest. Soon we’ll be spending more on interest than we do to run the country.
Democratic Congressman Jim Cooper of Tennessee points out that our biggest lender is Japan, but increasingly, China is our creditor. The oil-rich countries, including some of our enemies, like Iran, are increasingly buying our debt. We're putting ourselves in a very vulnerable situation as far as national security is concerned by having foreign lenders control so much of our economic future.
The credit rating agency Standard & Poor's so concerned about America's financial future it forecast America's debt is headed for junk status by the year 2025. It's going to make it a lot more expensive for our government to borrow money.
Congress is making promises for Social Security and Medicare that it cannot possibly keep. Waste, promises and politics as usual have many concerned this country is on a collision course. Congressman Jim Cooper says, in the near future it will be a better deal to be a creditor of this country than to be a taxpayer.
We must elect leadership with the guts to deal with these issues that are staring us in the face. In five years we’ve gone from 20 trillion to 46 trillion of debt. This year, Congress slipped in 13,012 pork earmarks worth $67 billion. That's a tripling of the pork trough since the Republicans won control of the House in 1994. The future of Social Security and Medicare is at stake in this election, but then Republicans never wanted those programs in the first place.
Recently, our government paid $38 billion to the wrong people, and $20 billion just disappeared. The GAO says the Pentagon is the biggest culprit, losing track of billions. The Defense Department acknowledges its bookkeeping problems and claims it’s trying to fix them.
Our government not only failing to keep track of our money, but it's borrowing huge sums to spend money it doesn't have. Last year, we paid $327 billion in interest. Soon we’ll be spending more on interest than we do to run the country.
Democratic Congressman Jim Cooper of Tennessee points out that our biggest lender is Japan, but increasingly, China is our creditor. The oil-rich countries, including some of our enemies, like Iran, are increasingly buying our debt. We're putting ourselves in a very vulnerable situation as far as national security is concerned by having foreign lenders control so much of our economic future.
The credit rating agency Standard & Poor's so concerned about America's financial future it forecast America's debt is headed for junk status by the year 2025. It's going to make it a lot more expensive for our government to borrow money.
Congress is making promises for Social Security and Medicare that it cannot possibly keep. Waste, promises and politics as usual have many concerned this country is on a collision course. Congressman Jim Cooper says, in the near future it will be a better deal to be a creditor of this country than to be a taxpayer.
We must elect leadership with the guts to deal with these issues that are staring us in the face. In five years we’ve gone from 20 trillion to 46 trillion of debt. This year, Congress slipped in 13,012 pork earmarks worth $67 billion. That's a tripling of the pork trough since the Republicans won control of the House in 1994. The future of Social Security and Medicare is at stake in this election, but then Republicans never wanted those programs in the first place.
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