The 112th United States Congress was sworn in this week and now is the time to "Walk the Talk!" Our new Senator Rand Paul has already stated that we must start living within our budget. We must only spend what we take in! Wow! What a novel idea, but will he "Walk the Talk!" There has been a lot a discussion this week on once again raising the national debt ceiling. Are you kidding? That's like maxing out your credit card, barely making the minimum monthly payments and then asking for a credit limit increase so you can go further in debt! Many proponents of the bill are going to say that we have to raise the debt or the country will grind to a halt! Our newly elected leaders have to stick to their guns and follow the will and the wisdom of the people.

Here are some numbers that should know!  The total interest, that's right, just the interest paid out in 2009 on the national debt was 383 billion dollars. Don't forget that the interest rates have been the lowest in 70 years. In 2008 we set an all time record of 451 billion dollars because interest rates were higher. It looks like 2010 will come in at over 432 billion dollars. This means that we as a nation are shelling out nearly 35 billion dollars a month in interest alone. In 2009, the national debt was nearly 12 trillion dollars. By October 2010 our debt was at 13.5 trillion dollars. As I write this column, the national debt is at 13.9 trillion dollars and rising one half billion dollars per day.  So, how are we doing lately? According to the Treasury Department tables, the increase in our debt (deficit) for fiscal year 2009 was 1.885 trillion dollars. Increase for 2010 is another 1.65 trillion, making the 2 year total an increase of 3.53 trillion bucks. That is an increase in our nation's TOTAL DEBT of about 35% - in just 2 years. When I look around, I see most everyone I know cutting back. Some because their smart, some because there are scared and most because their broke! We as a nation realize that the spending has to stop! Most government agencies are reporting increases in their spending while the private sector is barely hanging on, waiting for a miracle.

The ten states that are the most financially trouble are California, Oklahoma, Arizona, Illinois, Hawaii, New Jersey, New York, Nevada, Colorado and Michigan.  In November of 2009, CNN Money reported Kentucky as being ranked 15th in financially troubled states. So how do you think we are doing now? I've noticed several new Justice Centers being built. Russell County is getting one and a new jail to boot! Have you noticed all of the new guard rails going up on most of the parkways? I know I'll hear about these comments from many of you, but I'm just trying to point out that "We the People" seem to be the only one's that are really getting it!  It is time to cut spending at all levels of government!

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." - Alan Greenspan - 1966

"My friends, we live in the greatest nation in the history of the world. I hope you'll join with me as we try to change it." - Barack Obama - 2008

"After all is said and done, more is said than done." - American Proverb

May God Bless…

Ron Phillips