Friday, July 23, 2021

Government Spending Is Out Of Control

Currently, local, state and federal government spending represents about 40% of our annual Gross Domestic Product.  All this spending is a threat to our freedoms and our country.  That means that those of us that pay taxes are drained of our income to support all the wasteful programs, entitlements, etc.  Watching CSPAN House and Senate Committee hearings are a real eye opener.  Virtually, everyone who testifies is feeding at the trough one way or another going before Congress to speak of billions of dollars in spending as though life itself will end if the monies are not taken from us to support all sorts of crazy spending.  

The US Military is currently in more than 150 countries at our expense.  Yet, our border is not secure as we face a daily invasion of illegal aliens.  Social Security and Medicare are both headed toward insolvency as the National Socialists with the support of some RINOS keep adding new Entitlements.  We are now approaching $30 Trillion in our national debt.  If the federal government confiscated all the wealth in the country from everyone, it would still not be enough money to pay off this debt.   

Yet those in office both Socialists and Republicans talk daily about spending billions of dollars on all sorts of crazy things as though the money grows on trees.  Actually, it does grow on trees when the Federal Reserve just prints money to cover the debt and or borrows money from the Chinese and others to deal with deficit spending.  

Joe Biden is proposing a $6 trillion budget for the next year when the federal government only takes in $4 Trillion.  The difference will be borrowed money.  Contrary to Biden's demented logic, raising taxes will retard the growth of the economy so the government will not take in more money to cover all this deficit spending,  Yet the Socialists want even more, which they will push through under reconciliation without one single Republican Vote.   

Someday soon, the United States will default on all this debt.  When that happens the economy will collapse.  And, or the Federal Reserve will just print more money making the dollar worthless.  There are many parallels in history.  A similar situation led to Adolf Hitler in Germany.  The Soviet Union did not collapse because it was militarily weak.  The Soviet Union collapsed because its economy fell apart.  The United States is headed in the same direction.  The clock is ticking.  

No comments:

Post a Comment