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"Tax and spend" is Republican speak for "pay as you go."
Clinton era tax tables covered essential government services, paid off the Reagan era national debt, balanced the budget and spread the tax burden equally among all classes of Americans.
And then along came Dumbya and gave away the surplus to the ultra-rich, invaded Iraq, quadrupled the price of oil, gas, and energy, and ran up a national debt of 10 trillion dollars. Every American's share of the Iraq war is now over $4,000. The interest on the 10 trillion debt is about $4,000 a year for every man, woman and child. (And growing!) 10 trillion divided among every American is over $34,000.
And the Repukes want four more years of the same! Polls indicate that almost half of voters are in favor of this. Yup, let's just keep digging!
Gotta love it!
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 28 Apr 2008 at 07:14:52 PM GMT is:
9,338,804,522,537.58
The estimated population of the United States is 303,892,490
so each citizen's share of this debt is $30,730.62.
The National Debt has continued to increase an average of
$1.44 billion per day since September 29, 2006!
http://www.brillig.com/debt_clock/
Heres the crux of it! Ask yourself this.. "What would happen if the interest rates start to rise along with inflation
say to double digit interest rates? "
This is just the federal debt it doesn't include the rest of the debt which is more than 6 times this amount.