But you may ask yourself “what exactly is the debt limit, and what does that mean for average Americans?” Fortunately, our friends at the Heritage Foundation have made a great video that explains this concept. Check it out:
The government doesn’t have a revenue problem – it has a spending problem (see yesterday’s video by the Center for Freedom and Prosperity for further proof). Accordingly, raising the nation’s credit limit is certainly not the solution! As I wrote this week in a Townhall.com column this week, the national debt is now $12 trillion (with a T), and interest alone on the debt was $202 billion in FY 2009. The feds are trying to do too many things, and buy too many votes – but it’s driving us into bankruptcy!
It’s time to cut up the federal credit card and start trimming waste from the budget. We owe it to our children.