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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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So how does it affect me personally? Not a whole lot, right now. With the nanny state and all this bailing out. I think it will affect my kids and their kids a whole lot. As I understand it, the National Debt will now be $10.1 Trillion with an annual Federal budget of $3.3 Trillion and putting $250 Billion a year into paying down the National Debt.
Put this in simple household terms. Knock a few zeros off to simplify. I have $101,000 in credit card debt, I bring in $33,000 in annual income and I'm paying of $2,500 annually on the card. Do you think I'm ever going to pay that credit card off?
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Hugh
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