
In The Arena 'Choose To Pay'
In the video located in the link displayed above, Congress-woman Gloria Borger, also host of the CNN show, In the Arena discusses the tough spending choices that the U.S. treasury will have to make if the debt ceiling is not raised. Currently the nation's cost of spending is at a soaring $306 billion while the country's incoming revenue is only $172 billion which means that we will not have $134 billion to pay for expenditures. These expenditures include; interest, social security, medicare /medicaid, defense vendors, food/ nutrition services, HUD programs, veteran affairs, unemployment insurance, education funding, tuition assistance, military active duty pay, federal salaries, and IRS refunds. We can certainly pay for these expenditures, yet we can not pay for all because no matter what there will be sectors that will suffer. Many Americans are not aware or simply do not care about what is currently happening with the nation's debt, but it actually has a tremendous impact on all Americans.