Our National Debt is $13.7 Trillion

Some interesting facts From U.S. National Debt Clock:

$13.7 trillion is the national debt (total amount we owe). In 2000, it was $5.6 trillion; in 2004 it was $7.5 trillion. In 2008, it was $10 trillion.

$1.3 trillion is our national budget deficit (the difference between revenue coming in and national expenses, such as social security, medicare/medicaid). In other word, we pay out more than we take in. In 2000, we had a budget surplus. In 2008, our deficit was $418 billion.

$16 trillion is our total personal debt (includes all of our mortgages, credit card debt...). In 2000, it was $8 trillion. In 2004, it was $12 trillion. And here's proof that people began paying down debts during the recession--in 2008, our personal debt was $17 trillion, which means we paid off $1 trillion worth of debt in the past couple of years.

Judging from negative reaction by republicans and democrats to the fiscal commission's draft proposal to reduce our debt and deficit, no one truly wants make any sacrifices or compromises. It's just not the American way. The draft (the final proposal is due Dec. 1) needs bipartisan approval. But it is a nonstarter because of the politics surrounding it.

We could solve our problems, if only issues could be stripped of political ideology from the left and the right.

Read: The disappointing liberal reaction to the proposal from a liberal.

Some of what's in the proposal--click through to watch the video:

This is the American Way:

Obama's First Radio Address

The Hill: He went on to criticize Republican candidate John McCain (Ariz.) for supporting policies backed by President Bush, such as an “open-ended” role for the U.S. military in Iraq and tax cuts for wealthy Americans.
“The American people are worse off than they were eight years ago,” Obama said, adding, “Sen. McCain talks about putting our country first, but he is running for a third term of the very same policies that have set our country back. We can’t afford to take that chance. We can’t afford to keep running up record deficits while we favor the few over the many. We can’t prioritize a misguided war in Iraq over the urgent needs of the American people.”

Here's the link to Obama's radio address. He actually discusses issues. Link to the text. 

McCain's radio address is out today and who's he talking about? O - Ba - Ma! Apparently, he's getting nervous about Obama's speech at the democratic convention:

Politico: As you may know, the Democratic National Convention is just a couple of weeks away," McCain said at the outset of his talk. "It was four years ago, at the same gathering, that America heard a fine speech from an Illinois state senator named Barack Obama. He's done pretty well for himself since then. And the smart money in Denver is on another celebrated performance."

Then, keeping with his effort to portary Obama as merely a flashy orator, McCain likens his opponent to an overhyped summer movie that delivers more in the build-up than the actual content.