Congressional hogs continue the suicidal squandering of America’s financial future. The US Senate voted to raise the 12.3 TRILLION dollar statutory federal debt spending limit to a record 14.2 TRILLION dollars. This 1.9 TRILLION dollar spending limit increase is also another record.

As delineated in this blog on numerous occasions, the statutory debt spending limit is nothing more than a gigantic unlimited national credit card that congress authorizes to pay for government stuff (social programs, wars, earmarks, etc.) on CREDIT. When Congressional squanderers run out of the TRILLIONS of dollars that taxpayers pay on April 15^th each year they use the national credit card to charge the rest of the national budget bills.

For some perspective on the immoral, out-of-control financial destruction being wrought by the most culturally corrupt Congress since the founders consider the following facts: in January of 2000 the national credit card spending limit was 5.9 TRILLION dollars; in January of 2005 it was 8.1 TRILLION dollars; in January of 2010 it has been increased yet again to 14. 2 TRILLION dollars.

Now for the bad news: 1.3 TRILLION dollars (approximately one-third) of the proposed 2011 national budget of 3.8 TRILLION dollars will have to be charged on the national credit card because Congress does not have the tax income to pay for it. If you add in the expected 1.5 TRILLION dollarsof 2010 national credit card charges it means that Congress will exceed the newly approved 14.2 TRILLION dollar limit before the end of 2011.

Now for the really bad news: the Congressional Budget Office projects that national credit card charges between 2010 and 2019 will total 9.1TRILLION dollars. Congress is leading America down the path to financial Armageddon.

The squandering Congress has no plan to cut spending or to begin paying down the nation’s accumulated credit card debt. In fact, they can barely make the interest only payments on the national credit card. 

Without wholesale intervention by Main Street voters, the utter destruction of the US economy and the financial future of our kids and grandkids is now inevitable.

Any member of Congress who voted to increase the statutory debt limit without a plan to cut national spending and begin paying down the national credit card debt needs to be thrown out of office.

Any member of Congress who votes for the 3.8 TRILLION dollar 2011 budget without a plan to cut national spending and begin paying down the national credit card debt needs to be thrown out of office.

Wake up America! Time is short. We are on the brink of financial destruction! You have one last chance to stop this Congressional madness by peaceful means by showing up at your polling place in 2010 and 2012. If you miss this opportunity there will not be another. Live free or die!