Is Washington Bankrupting America?

New web video breaks down the numbers on our dire fiscal situation

ARLINGTON, Va., April 20 /PRNewswire-USNewswire/ -- Today, BankruptingAmerica.org (an awareness campaign by Public Notice) launched a new web video titled "Is Washington Bankrupting America?"  This video (lasting only 2:20) illustrates the staggering fiscal problems our government faces so that each American will understand the severity of Washington's overspending.

Here are a few facts:

• Over the last 10 years, federal government spending per household increased by 40%
• Over the last 10 years, federal government debt per household increased by almost 70%
• In 10 years, interest payments on the debt will more than quadruple
• In 10 years, interest payments on the debt plus autopilot programs (like Social Security and Medicare) will consume 90 cents of every federal dollar

Can anyone relate to $106 trillion?  Who understands what that means to their personal financial future? Not many.  Yet, if you breakdown this number so that people can see that our national debt equals the income of every American, nine times over, or that paying this unfunded promise would require selling every home in the U.S. five times, people begin to understand just how bad the problem really is.  

Government spending is unsustainable! Washington must be held accountable.

"The past decade has seen Washington reach new heights in its carelessness with taxpayer dollars. Our web video, Is Washington Bankrupting America? breaks down the dire fiscal challenge facing our country to 'just the facts' about past and present government overspending and the unfunded future promises made by our elected officials. This video should serve as a wake up call to the average American about the severity of our problems," said Gretchen Hamel, executive director of Public Notice. 

This web video is a the first in a series that will be released in order to give people the facts and figures they need to understand the problem, draw their own conclusions, and encourage their elected representatives to get spending under control.  

"Enough is enough, we need to stop this reckless overspending now," said Hamel.

To view this video, please visit BankruptingAmerica.org (http://www.bankruptingamerica.org/2010/04/20/new-video-is-washington-bankrupting-america/)

Public Notice is an independent, nonpartisan, non-profit, 501(c)(4) organization dedicated to providing the facts and insights on the affects public policy has on American's financial well being.

If you would like more information on the sources for "Is Washington Bankrupting America? Or to schedule an interview with Gretchen Hamel, please call Kate Pomeroy at [email protected]

SOURCE Public Notice