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Your Baby’s Share of the National Debt

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Think how terrible you would feel if your obstetrician told you your new baby had a birth defect that he or she would have to live with for life. As terrible as that would be, it only happens to a tiny fraction of children born in America.

But believe it or not, EVERY baby born in 2016 inherited a terrible burden they will bear for life. If your baby was born in 2016, he or she already owed $42,537 of the National Debt. By the time they turn 18, their share of the National Debt will be $68,454. And when they are 34 they will owe $116,904.

We often hear on the news about the crushing student loan debt many graduates face. While they are desperately trying to figure out how to pay for an apartment and buy food on the meager salary of their first job, they also have to start paying back their student loans. When you add to that their share of the National Debt and their future looks bleak, indeed.

“But there’s a big difference,” you may say. “They have to actually pay back their student loans. They don’t have to pay their share of the National Debt.” I wish that were true – but it is not.

They will pay. They will pay higher income and Social Security taxes. They will pay by their kids receiving a worse education than they had. They will pay when their car needs more repairs because of our crumbling highways. And they may pay with their lives if the government manages to get control of health care and starts rationing it (as happens in every nation with government health care).

What do all these problems (and hundreds of others) have to do with the National Debt? Here’s the equation: Higher National Debt = Higher Interest on the Debt = Higher taxes = Less Money for the Government to Spend on its Proper Functions (like the national defense and repairing critical infrastructure such as unsafe bridges).

If you’d like to learn more about what I call The Cancer of Inflation, take advantage of the hundreds of videos and articles available at www.ChristianFinancialConcepts.com. You can also Subscribe there and received invitations to our free weekly Financial Education Webinars.

This article was originally posted at www.ChristianFinancialConcepts.com

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The opinions expressed in this commentary are solely those of the author and are not not necessarily either shared or endorsed by iPatriot.com.

Dr. Tom Barrett

Dr. Tom Barrett has been a pastor for over 40 years and currently oversees ordained ministers in South Florida. He has always been a bi-vocational minister, working in the financial services arena as a Branch Manager and National Vice President. He is a Patriot who has studied and taught the Constitution in both church and secular settings. A prolific author he has written a book on Conservative principles (The Best of Conservative Truth) and has written over a thousand feature articles that have been published in local and national newspapers as well as on the Internet. He speaks nationally on the Christian foundations of our nation and its Constitution, and internationally on Biblical financial principles. He has lectured at seminaries, universities, economic summits, churches, and the International Money Shows. His websites are www.ConservativeTruth.org (writing); www.ChristianFinancialConcepts.com (ministry); www.InvestmentGrade.gold (precious metals), and www.DrTom.TV (personal). His work is followed by thousands at www.Facebook.com/DrTomTV.

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