by James Glaser
May 11, 2006

On Wednesday the House passed a bill that will cut taxes by $70 billion, and the White House feels confident that the Senate will do the same. Cutting taxes in an election year is always good for the vote totals.

As of May 11, 2006, the national debt is, $8,365,963,575,868.86. Round that off, and it comes to eight trillion three hundred sixty six billion dollars. We owe that money, but you and I won't be paying off that debt. America is on a borrowing kick, and every day the debt goes up by almost two billion dollars.

Some day some one will have to pay the money back that we are living the high life with today. Our children and grandchildren and their grandchildren will be paying for our excesses. They won't be able to think about tax cuts, because we took them, and kept borrowing more and more. We like to spend.

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