Dear Speaker Pelosi, Majority Leader Reid and Mr. President:
My kids have a few questions. They’ve heard that thanks to federal spending creating huge national debt, looking out a few years, each of them personally owes about $180,000 plus interest. We have five kids so combined they are already under water more than $1 million. Our youngest is three. Her indebtedness will exceed that of her older siblings.
Their first question is: how are we going to pay off this debt? Their second question is: how did we get so far in debt?
We have told them the truth. It’s kind of a tradition in our family. We told them President Bush allowed the federal government to grow 60% on his watch with a lot of controversial spending. And, of course, you folks in Congress had a lot to do with that too. We told them so far, President Obama has outdone Mr. Bush by a factor of three. This means Mr. Obama has spent three times as much as Mr. Bush in 1/8th the time. And, of course, you folks in Congress had a lot to do with that too.