Saturday, October 15, 2016

More Red as the Budget Balloons

As the government completes fiscal 2016, the budget deficit was $587 billion dollars. This is a 34% spike over last year's budget deficit. That means that the government borrowed 15 cents for every dollar spent. Government spending went up almost 5% to $3.9 trillion with revenues staying flat at $3.3 trillion.

According to the Congressional Budget Office, the deficits for the next several years will be $600 billion. This represents 3% of the economy. Although economists say this is bearable, these deficits will slow down growth.

Each year we hear the same thing over and over. The wealthy need to pay more in taxes. Why? So, the government can provide funding for college tuition subsidies, infrastructure and expansion of the Affordable Care Act.

We cannot afford reckless spending by our government. Fiscal responsibility is something that is lacking in our government and it is time that the American voter act. Enough with all of this spending.

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