Can you visualize 5,865,696,000,000 miles? If you were traveling at the speed of light (186,000 miles a second) this is how far you would travel in a One Light Year. How about 5,865,696,000,000 dollars? This is how much you would spend in a year at the speed of light. America's Children, describe this $5.87 trillion as One Light Dollar. It took from 1787 until November 23, 2001 for the United States to go in debt by One Light Dollar. In the past three years, the US national debt has swelled to $7.2 trillion, or almost 1.23 Light Dollars. America's Children. the ultimate beneficiaries of this debt, speak out to communicate to parents and grandparents, "Houston, we have a problem."
Miami, FL (PRWEB) July 15, 2004 -- Close your eyes and imagine stars far, far
away. Imagine a distance of trillions of miles. Astronomers faced a dilemma
years ago when pondering how to explain this incomprehensible distance. For
example, you would have to circle the earth 40 million times to travel a
trillion miles. The nearest star other than the sun is 24 trillion miles from
earth. They created a Light Year. Today, we face the same dilemma due to
government spending in the trillions of dollars.
America's Children* urge parents and grandparents to start thinking in terms of "Light Dollars" to comprehend the crisis facing the next generation as explained in an easy-to-read book entitled, Light Dollars and No Sense: How the US Government is Spending Money at the Speed of Light.
Light Dollar Facts
Speed of Light: 186,000 miles per second. For example, it would take 1.3 seconds at the speed of light to travel from the earth to the moon.
Light Year: The distance light would travel in one year: 5.87 trillion miles. For example, it would take about four light years to travel to the nearest star other than the sun.
Light Dollar: The amount one would spend in a year at the speed of light: $5.87 trillion.
US Debt November 23, 2001 (A Day of Financial Infamy): $5.87 trillion
Current US Debt: $7.2 trillion and growing.
Light Dollar Equivalent: 1.23 Light Dollars
"The American people are not stupid, and they know something is wrong about deficit spending and the national debt. But, these numbers are obscenely large. It is the same issue faced by astronomers trying to explain distances in space. No one can comprehend or visualize a trillion of anything, let alone dollars. Perhaps that is why no one "gets it" or cares about a threat to our future that is as significant as terrorism. Our hope is that by using the Light Dollar metaphor, in the context of trillion dollar government spending, we will be able to explain these incomprehensible numbers just as astronomers used the Light Year to explain incomprehensible distances in space.
We decided to tell this story through the eyes of a small child with the hope that parents and grandparents would clearly be able to see the impact of what should be referred to as "fiscal child abuse" since the Light Dollar debt will seriously impact today’s children. In many ways, George Bush is spending money at the speed of light and passing a "mortgaged torch of freedom" to the next generation of Americans."
The authors follow the creation of the national debt from the American Revolution to the 21st century. Interestingly, the national debt was a mere $2.14 billion in 1900. At the end of the Second World War, it had swelled to $258.7 billion. It broke the first one trillion dollar barrier in 1980.
Since then, it has grown an incredible 600% to its current level of $7.2 trillion—most of which occurred with Republicans in the White House. In fact, the current debt is set to grow almost another 10% this year alone since the projected deficit might exceed $700 billion. "The Bush family contribution to our national debt is staggering and can no longer be tolerated. Any true conservative cannot support this level of financial irresponsibility," added one of the book's contributing authors.
The authors also reject the notion that deficits and the resulting national debt are acceptable based on a percentage of GDP. Instead, they focus on the annual interest expense of $318 billion. "Basically, the United States has a $7.2 trillion adjustable interest rate mortgage. It cannot balance its budget with interest rates at a 46-year historical low. If interest rates increase, the budget is set to implode!"
The authors speculate that most Americans have no idea that more than one-third of all individual income taxes are used to pay the annual interest on the national debt. They repeatedly contrast the annual $318 billion interest payment to other federal budget items such as Education ($50 billion), NASA ($15 billion), etc. The annual interest is the third largest outlay in the federal government, trailing only national defense and mandatory social programs.
The authors urge political action before it is too late and they now monitor this national crisis at www.lightdollar.com where readers can find current information and also watch the debt grow by the second on a national debt clock.
"Perhaps this should be Michael Moore's next movie or Move-on.org's next commercial with animated Light Dollar illustrations by George Lucas. This concept easily lends itself to creative visualization and even small children can understand a Light Year...so maybe the American voters will grasp a Light Dollar," said one of the contributing authors.
How to Purchase
Light Dollars and No Sense: How the US Government is Spending Money at the Speed of Light, by America's Children. ISBN: 0-595-31904-1. The book is available for purchase online ($10.95) at www.amazon.com, www.barnesandnoble.com and at the publisher’s web site: www.iuniverse.com
Media and Political Note: For immediate access, the e-book can be downloaded at www.iuniverse.com for only $6.00.
*A group of concerned accountants, attorneys, business students, thought leaders, and politically aware individuals, both young and old, share information about the national debt that will ultimately challenge the dreams and threaten the future of the group they chose to honor as the author of this book: America’s Children.
iUniverse provides individuals a simple, fast and affordable way to publish, market, and sell fiction and non-fiction books. The company is one of the largest book publishing companies in the United States. iUniverse eliminates the necessity of massive print runs, dramatically shortens time-to-market, and gives authors control over when and how their works are published. iUniverse publishing programs are endorsed by industry leading author organizations, including the Authors Guild, ASJA, and Mystery Writers of America. iUniverse is a proud member of the Association of American Publishers, Publishers Marketing Association, and Small Publishers Association of North America. The company's major investors include Warburg Pincus and Barnes & Noble.
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Source : http://www.prweb.com/releases/2004/7/prweb141129.htm