- Over the last 10 years, federal government spending per household increased 46 percent and federal government debt per household increased by 70 percent. (Calculations Based On OMB Data FY2011 Budget, www.whitehouse.gov/omb/, And The Census Bureau, www.census.gov/, Accessed 4/13/10)
- In 2020, interest on the debt will be the third largest spending item (after only Social Security and Medicare; it will be greater than defense spending). While other areas of spending, even if done wastefully or inefficiently, may beget some return (national defense, food stamps, etc.) interest payments only pay for the financing of previous overspending. This is money out the window. (Calculations Based On OMB Data FY2011 Budget, www.whitehouse.gov/omb/, Accessed 4/13/10)
- In 2020, interest on the debt plus mandatory spending programs (Social Security, Medicare, Medicaid, and just a handful of others) will consume 90 cents of every federal tax dollar. (Calculations based on Summary Table S.1 in the FY2011 U.S. Budget, Office of Management and Budget, www.whitehouse.gov/omb/)
- Government overspending up until now has put us $12.8 trillion in debt. This is a burden that will be borne by future generations who had no say in how money – that will be taken from them – was spent. This is intergenerational child abuse and it is undemocratic. (U.S. Treasury Department, www.treasurydirect.gov/, Accessed 4/13/10)
- The debt we have already accumulated is only part of the problem. Over the next ten years, the current budget path is slated to add another $10 trillion to our burden with no plans to pay for it in sight. (Office Of Management And Budget FY2011 Budget, www.whitehouse.gov/omb/, Accessed 4/14/10)
- In 2010, the deficit is set to be $1.6 trillion . This is over $140 billion higher than the deficit in 2009, when the country was spending more money because of the “Great Recession.” (Office Of Management And Budget FY2011 Budget, www.whitehouse.gov/omb/, Accessed 4/13/10)
- President Obama’s budget is set to add more to the national debt than every President from George Washington through George Bush. (Calculations Based On OMB Data FY2011 Budget, www.whitehouse.gov/omb/, And The Bureau Of Labor Statistics Consumer Price Index, www.bls.gov/cpi/, Accessed 4/13/10)
- The debt ceiling was raised to $14.3 trillion in January of 2010, this was the 6th time the debt “ceiling” had been raised since 2007. With debt accumulating, the ceiling may soon need to be increased again. (Office Of Management And Budget FY2011 Budget, www.whitehouse.gov/omb/, Accessed 4/13/10)
- Over the long run, our problems are much worse. The amount by which we are set to overspend is $106 trillion (in present value terms). This is larger than taking all income from every American this year six times over. (General Accounting Office, “The Federal Government’s Long-Term Fiscal Outlook,” 1/10)
These numbers are the unhappy reality of Senators and Representatives who are responsive to lobbiests from wealthy special interests like Big Pharma, Hospitals, Wall Street, Insurance companies, Banks, etc., buying influence with campaign contributions or worse. Yes, some of our Senators and Congressmen even take bribes but few are caught. These elected officials also give money to big constituencies in the form of entitlements that will be paid for by taxpayers and future generations. It’s corrupt and unsustainable. These officials are basically committing treason against America. And it doesn’t matter whether they’re Republicans or Democrats. They are stealing this money. You must regard it as the crime it is. What will get their attention is voting every single one of them out of office in the next election. Some may be fine but most are so compromised, they deserve to be fired.