Last year, the federal government took in more money than any year in history – $2.7 trillion. The federal government also spent more money than any year in history – $3.7 trillion. We spent a trillion dollars more last year than we spent in 2006, just seven years earlier!
This shows that no matter how much we increase government spending, the problems that money is supposed to alleviate still exist, now accompanied by the additional burden of astronomical debt.
To make those budget numbers a little easier to comprehend, remove seven zeroes from them, so that 2.7 trillion becomes 27,000 and 3.7 trillion becomes 37,000. What that means is that the federal government’s spending pattern is equivalent to a person making $27,000, spending all that, and putting an additional $10,000 on a credit card – every year. That cannot be sustained for a family, and it cannot be sustained for our country.