There's always been a need for fiscal belt tightening in america. In 1791, after the American Revolution, our national debt stood at nearly $75.5 million.
But, will our government always be in debt? We put that question to America's number one anti-tax crusader, Grover Norquist.
He says American's just don't care enough. "It's free money. It's other peoples' money and they just don't care, they just don't care and American people don't get made enough to make them care."
Since Obama took office four years ago, the debt has increased by nearly $6 trillion. The total is now $16.4 trillion. That's not a number any of us can comprehend. Maybe that's why Congress and the President have done nothing to find a solution to dig us out of the financial morass.
"You can't borrow this kind of money. You have to pay your bills and Mr. Obama has got 50% of the population convinced they can have a federal government for free." Said Economist Peter Morci.
To pay off our debt, every citzen, every single one of us would have to come up with more than $50,000 dollars.
Richard Treacy says the government should be like everyone else. "We have to live within our means in our house. So, I'm sure government is no different."
Or is it? Morici knows what will happen if government does not change its reckless ways. "At some point, you can't pay your debts and you just have to print money to cover them and then you have hyperinflation."
But, will our government always be in debt? We put that question to America's number one anti-tax crusader, Grover Norquist.
He says American's just don't care enough. "It's free money. It's other peoples' money and they just don't care, they just don't care and American people don't get made enough to make them care."
Since Obama took office four years ago, the debt has increased by nearly $6 trillion. The total is now $16.4 trillion. That's not a number any of us can comprehend. Maybe that's why Congress and the President have done nothing to find a solution to dig us out of the financial morass.
"You can't borrow this kind of money. You have to pay your bills and Mr. Obama has got 50% of the population convinced they can have a federal government for free." Said Economist Peter Morci.
To pay off our debt, every citzen, every single one of us would have to come up with more than $50,000 dollars.
Richard Treacy says the government should be like everyone else. "We have to live within our means in our house. So, I'm sure government is no different."
Or is it? Morici knows what will happen if government does not change its reckless ways. "At some point, you can't pay your debts and you just have to print money to cover them and then you have hyperinflation."