Tell Obama not to raise the debt ceiling

From the National League Of Taxpayers:

Seventeen trillion. It’s a ticking time bomb.

As I write you today, that's how much taxpayers are on the line for to feed the tax-and-spend addiction of lawmakers in Washington.

But how would you feel if I told you that all we're doing is whittling away at the interest that our national debt is accruing?

In the last fiscal year we've accrued more than 395.8 billion dollars in additional debt in interest alone.

And that's with an artificially low effective interest rate of 2.4%.

But what is President Obama’s solution to this growing behemoth?

Raise the debt ceiling so we can afford to make our interest payments.

I don't know about you, but I've never found that raising my credit limit just to pay my interest has ever worked long-term when handling my own debt.

But for tax-and-spend lawmakers the prospect of raising the debt ceiling to pile onto our already sky high debt seems to make them almost giddy.

Under the Obama administration, Congress has already raised the debt ceiling SEVEN times.

And now they want to go for eight.

And for what? So we can continue racking up massive amounts of debt for the ever-expanding government programs?

So we can tax our way into oblivion?

That's why it is so important that we hold the line against any new debt ceiling increase.

So if you haven’t signed your “Just Say No” Petition, please do so here.

If you have, I ask you to please forward this email to a friend.

If tax-and-spend politicians can't just continue raising the debt ceiling every time they run out of funds, it would force them to live within their means.

Congress would only be able to spend what it took in.

And that doesn't sound like such a bad thing to us.

Sincerely,

Gary Paumen, President
National League of Taxpayers

P.S. Historically, the interest rate on the federal debt has been at least double the effective 2.4% interest rate, around 5-6%.

And you can expect that we'll be returning to that number, if not passing it.

While an increase of a few percentage points might not initially seem like that much, take a 17 trillion dollar price tag, and you're looking at raising the yearly interest rate from a “mere” $395 billion to a TRILLION dollars in interest payments every year.

Please sign your petition by clicking here.