"Delegate Albo's Viewpoint: Borrowing Money"
I am extremely worried about the long term effects of the federal governments borrowing of $1.8 trillion this year. As most know, in order to fund the bailouts and the “stimulus” funds, the federal government had to go into debt. And to find the money, they had to go to where the money is located, and borrow from the Chinese and Saudi Arabian governments.
Now, think about how big $1.8 trillion is…. Yes, its impossible to get your head around such a large figure. There is not even a word in existence for an amount above a trillion. So, to give you an idea of how much that is, think of it this way: If Congress was to pay this back at $1/sec, it would take 11 days without sleeping to pay back a million. And it would take 570….. CENTURIES to pay it all back! That’s right, 570 Centuries. What was happening 570 centuries ago? Crogmagnon Man roamed Europe.
So you can see how monstrous our debt is in just this year alone. And in order to re-pay the Chinese and Saudis, Congress wants my 4 year old to pay this back over his lifetime.
Your Federal government did this to our children, but you can be confident in knowing that as your State Delegate I will never do this to your children or grandchildren. I will never let Virginia borrow money it does not have to pay for ongoing Welfare services it cannot afford. Under my 16 year watch as your Delegate, Virginia government has always lived within its means. For as long as you honor me with your vote, I can assure you that Virginia will never borrow money to pay for today's ongoing government services.
Now, think about how big $1.8 trillion is…. Yes, its impossible to get your head around such a large figure. There is not even a word in existence for an amount above a trillion. So, to give you an idea of how much that is, think of it this way: If Congress was to pay this back at $1/sec, it would take 11 days without sleeping to pay back a million. And it would take 570….. CENTURIES to pay it all back! That’s right, 570 Centuries. What was happening 570 centuries ago? Crogmagnon Man roamed Europe.
So you can see how monstrous our debt is in just this year alone. And in order to re-pay the Chinese and Saudis, Congress wants my 4 year old to pay this back over his lifetime.
Your Federal government did this to our children, but you can be confident in knowing that as your State Delegate I will never do this to your children or grandchildren. I will never let Virginia borrow money it does not have to pay for ongoing Welfare services it cannot afford. Under my 16 year watch as your Delegate, Virginia government has always lived within its means. For as long as you honor me with your vote, I can assure you that Virginia will never borrow money to pay for today's ongoing government services.
Labels: Viewpoint
posted by Delegate Dave Albo at
Thursday, July 02, 2009
2 Comments:
But the state is accepting Federal money, Right?
First of all, the House of Delegates passed a budget that included no stimulus funds. After that budget was passed, the stimulus funds became available.
The state accepted federal stimulus money that did not have strings attached. For example, much of the unemployment money required VA to raise taxes on Va Businesses in perpetuity. We did not accept those funds which required VA to raise taxes in the future.
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