Ross Perot Warns About Dangers of National Debt

In his run for the presidency in 1992, Ross Perot became famous for his use of charts and graphs. In that race Perot spent over $64 million of his own money on a campaign that featured Perot explaining the economy in half hour infomercial type programs on national TV.

Perot, now 78 years old, whose net worth is about $5 billion, is financing a web-sit called perotcharts.com that features updated charts explaining the national debt.

Perot writes, “Why this web site now? Because we are running out of time. The American people must wake up and face the reality that promises made in the past will soon bankrupt this nation.” Perot worries about, “leaving our children and grandchildren with a burden they cannot possibly manage.”

Perot’s web-site reports, “The White House Office of Management and Budget stated that the budget deficit projected for fiscal year 2009 will rise to a record $482 billion in its mid-session review delivered to Congress on July 28, 2008.

“The estimate of $482 billion is approximately 50% deeper in the red than the worst case estimate prepared by the Congressional Budget Office in January, 2008 which is displayed in this chart. The estimate is $74 billion higher than the Office of Management and Budget predicted just six months ago.”

Interest payments on the national debt was $377.3 billion just for first nine months of this fiscal year