Americans Have Amnesia Over Loss of Freedom

ightly, much is being made about the size of federal government spending and the annual budget deficits, along with the projected resulting growth in the national debt over the next ten years. But a real and more serious deficit is to be found in the lack of sound and serious thinking and debate about the growing size and scope of government in America, because it is the latter that is the fundamental cause behind the fiscal and monetary madness that we are experiencing. 
In the current 2021 federal government fiscal year that closes at the end of September, Uncle Sam’s total outlays are projected to come to $6.85 trillion, with total tax revenues of $3.83 trillion, and a budget deficit of over $3 trillion. The Congressional Budget Office (CBO) anticipates that for seven of the next ten years federal spending will exceed federal revenues by $1 trillion. This will push the national debt from its current $28.5 trillion to nearly $40 trillion. 
Read Full Article »


Comment
Show comments Hide Comments


Related Articles