Fiscal Insanity: The Government Borrows $6 Billion A Day And We’re Stuck with The Bill
By John & Nisha Whitehead
April 20, 2023
We’re not living the American dream. We’re living a financial nightmare. The U.S. Government is funding its existence with a credit card. The government—and that includes the current administration—is spending money it doesn’t have on programs it can’t afford and “we the taxpayers” are the ones being forced to foot the bill for the government’s fiscal insanity.
According to the number crunchers with the Committee for a Responsible Federal Budget, the government is borrowing roughly $6 Billion a day.
As the Editorial Board for the Washington Post warns:
“The nation has reached a hazardous moment where what it owes, as a percentage of the total size of the economy, is the highest since World War II. If nothing changes, the United States will soon be in an uncharted scenario that weakens its national security, imperils its ability to invest in the future, unfairly burdens generations to come and will require cuts to critical programs such as Social Security and Medicare. It is not a future anyone wants.”
Let’s talk numbers, shall we?
The national debt (the amount the federal government has borrowed over the years and must pay back) is $31 Trillion and will grow another $19 Trillion by 2033. That translates to roughly $246,000 per taxpayer or $94,000 for every single person in the country.
The bulk of that debt has been amassed over the past two decades, thanks in large part to the fiscal shenanigans of four presidents, 10 sessions of Congress and two wars.
It’s estimated that the amount this country owes is now 130% greater than its gross domestic product (all the products and services produced in one year by labor and property supplied by the citizens).
In other words, the government is spending more than it brings in.
The U.S. ranks as the 12th most indebted nation in the world, with much of that debt owed to the Federal Reserve, large investment funds and foreign governments, namely, Japan and China.
Interest payments on the national debt are estimated to top $395 Billion this year, which is significantly more than the government spends on Veterans’ benefits and services, according to Pew Research Center, more than it will spend on elementary and secondary education, disaster relief, agriculture, science and space programs, foreign aid, natural resources and environmental protection combined.
In ten years, those interest payments will exceed our entire military budget.
We’ve been sold a bill of goods by politicians promising to pay down the national debt, jumpstart the economy, rebuild our infrastructure, secure our borders, ensure our security and make us all healthy, wealthy and happy.
None of that has come to pass, and yet we’re still being loaded down with debt not of our own making while the government remains unrepentant, unfazed and undeterred in its wanton spending.
Indeed, the national deficit (the difference between what the government spends and the revenue it takes in) remains at more than $1.5 Trillion.
If Americans managed their personal finances the way the government mismanages the nation’s finances, we’d all be in debtors’ prison by now.
Despite the government propaganda being peddled by the politicians and news media, however, the government isn’t spending our tax dollars to make our lives better.
We’re being robbed blind so the governmental elite can get richer.
In the eyes of the government, “we the people, the voters, the consumers, and the taxpayers” are little more than pocketbooks waiting to be picked.
“We the people” have become the new, permanent underclass in America.
Consider: The government can seize your home and your car (which you’ve bought and paid for) over nonpayment of taxes. Government agents can freeze and seize your bank accounts and other valuables if they merely “suspect” wrongdoing and the IRS insists on getting the first cut of your salary to pay for government programs over which you have no say.
We have no real say in how the government runs, or how our taxpayer funds are used, but we’re being forced to pay through the nose, anyhow.
We have no real say, but that doesn’t prevent the government from fleecing us at every turn and forcing us to pay for endless wars that do more to fund the military industrial complex than protect us, pork barrel projects that produce little to nothing and a police state that serves only to imprison us within its walls.
If you have no choice, no voice and no real options when it comes to the government’s claims on your property and your money, you’re not free.
While we’re struggling to get by and making tough decisions about how to spend what little money actually makes it into our pockets after the federal, state and local governments take their share (this doesn’t include the stealth taxes imposed through tolls, fines and other fiscal penalties), the government continues to do whatever it likes—levy taxes, rack up debt, spend outrageously and irresponsibly—with little thought for the plight of its citizens.
This is no way of life.
There was a time in our history when our forebears said “enough is enough” and stopped paying their taxes to what they considered an illegitimate government. They stood their ground and refused to support a system that was slowly choking out any attempts at self-governance and which refused to be held accountable for its crimes against the people. Their resistance sowed the seeds for the revolution that would follow.
Unfortunately, in the 200-plus years since we established our own government, we’ve let bankers, turncoats and number-crunching bureaucrats muddy the waters and pilfer the accounts to such an extent that we’re back where we started.
But what if we didn’t just pull out our pocketbooks and pony up to the federal government’s outrageous demands for more money?
What if we didn’t just dutifully line up to drop our hard-earned dollars into the collection bucket, no questions asked about how it will be spent?
What if, instead of quietly sending in our tax checks, hoping vainly for some meager return, we did a little calculation of our own and started deducting from our taxes those programs that we refuse to support?
As I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, if we don’t have the right to decide what happens to our hard-earned cash, then we don’t have any rights at all.
Editor’s Note: John Whitehead is an Attorney and Author who has written, debated and practiced widely in the area of Constitutional Law, Human Rights and Popular Culture. John Whitehead's Commentary are his views and he is open for discussion, he can be contacted at: email@example.com. Information about The Rutherford Institute is available at: www.rutherford.org