The Current Federal Debt Ceiling of $16.7 Trillion Plus...

The current national debt ceiling of $16.7 is but a small part of our estimated "total" debt by 2017 of more than $170 trillion, mostly unfunded liabilities, is a consequence of actions taken on the part of our federal government.  Both the republicans and democrats are responsible so it is a bi-partisan problem which can only be resolved on a bi-partisan basis.  Charges and counter-charges of who is responsible is a total waste of time.  Bottom line.  It is time for both parties to STOP spending money we do not have.  That means some hurt will occur but not necessarily for those most in need of assistance.  If this debt is not dealt with everyone will be hurt.  Billions of dollars are wasted every year on frivolous endeavors.  Redundancy in government is rampant.  Government has far over-reached its constitutional boundaries.  Multiple agencies can and should be downsized to make government more efficient and effective.  Some should be eliminated.  These and a multitude of other actions can bring huge savings of taxpayer dollars.  That means favored programs on the part of both parties must either be eliminated or seriously down-sized.  The public must demand it or the ultimate consequence will be the financial ruin of the nation.  Here is a part of what this article says.  "America simply must begin discussing our financial outlook in terms of our cataclysmic unfunded liabilities. Perhaps if the truth were out, it would supply the political motivation needed to inflict radical change upon these nation-destroying benefit programs. During the next few weeks, as you hear politicking about raising the debt ceiling from $16.7 trillion to about $20 trillion, be aware that you are hearing only of 'government-style' accounting, covering only a small fraction of the national debt."   

http://pjmedia.com/blog/debt-limit-huh-unfunded-liabilities-dwarf-16-7-trillion-ceiling/?singlepage=true   

George Burns