Hat tip to TheFlaCracker who posted the link to the embedded video below. These advertisements are running in newspapers and on television stations across the country. One of the goals of the DefeatTheDebt.com project is to educate the masses on the difference between “Debt” and 'Deficit”. The following definitions are excerpted from a recent Fox News report.
“The 'Deficit' refers to the red ink Uncle Sam accrues in any given year. And that is expected to reach $1.6 TRILLION this year.
“The 'Debt' refers to the ever-growing number of dollars we are borrowing to finance our deficit spending . . . (which) right now our national debt stands in the $11+ TRILLION range."
Children: I pledge allegiance to America’s debt, and to the Chinese government that lends us money. And to the interest, for which we pay, compoundable, with higher taxes and lower pay until the day we die.
Voice Over: American tax payers owe more than $500 million in interest payments every day to cover our government’s debt, much of that debt is owe to foreign governments. Go to DefeatTheDebt.com.