From Bad to Worst and Nobody Seems to Care

Last month the U.S. posted a record $220.9 billion budget deficit. We took in $107 billion but spent $328 billion. That means we only funded 32% of all federal government expenditures. Of the $328 billion that was spent, $164 billion went for entitlements. You know, like Social Security, Medicare, Medicaid, etc. Now, this is the scary part. If we eliminate the $164 billion of entitlements, which leaves us with $164 billion for other expenditures, we still don't have enough revenue to pay for it. Because we only took in $107 billion. Folks, this can not and will not continue that much longer. We can not continue to spend our way to prosperity without the revenue to match it. I know there are those out there, especially in Washington, that believe that as long as we have checks, it must be ok to use them.

Given the theme of this post, I believe it is a good time to revisit the U.S. Debt Clock.