retirement planning services since 1987

Blog

SPENDING + DEBT = CRISIS

August 25, 2017

|Daniel A. White

You have to hand it to our federal legislators. They really know how to spend.
 

For the first time ever, federal government spending topped $4 trillion. It’s up from $3.85 trillion the year prior. That equals $33,805 for each of the 118,562,000 households in the U.S.
 

Before we go blaming President Trump, it’s important to realize the spending is tied to former President Obama’s final budget.
 

But, if there’s one thing that all politicians can agree on – something that crosses party lines without issue – it’s that the budget will go up from the previous year.
 

What are we spending all this money on? Here’s a breakdown:

Combine the spending with the fact that our national debt hovers at or above $20 trillion and it’s right to ask – what is going on here?
 

Typically, and unfortunately, most people don’t care. There is no political will to deal with spending and the debt, even from President Trump.
 

The sad reality is that politicians won’t take action to slow the debt because so many people rely on that 66 percent chunk of the budget. It comes in the form of benefits like Medicare, Medicaid, unemployment, housing aid and more.
 

Still, it doesn’t take a genius to see the path we’re on. Spending and debt are out of control, and it won’t stop. Another crisis almost seems inevitable at this point.

Share this post

Share on facebook
Share on twitter
Share on linkedin
covid-19 update

We want to let you know we’re keeping things clean and being cautious.

We have adopted the following procedures for all meetings at our office, including the appointment we have scheduled with you:

Send us a message and receive a complimentary follow-up call from one of our team members!
X
X