Why the Federal Government Is Broke

The federal budget in FY 2007 was around $2.7 Trillion.  By FY 2017 it had soared to $4.1 Trillion -- but it has never been enough. Politicians of both parties have continuously added programs that benefit some people and which the politicians promise will be paid for. Once programs start, they are hard to stop because there are always some beneficiaries who will be hurt. Even though politicians promise the programs will be paid for, they obviously aren’t, which is why we owe 20 trillion dollars and have tens of trillions of dollars in unfunded liabilities. They either borrow or add new taxes and fees to pay for new programs and to fund previous underfunding. There is always some service or product they can tax. It is very easy to use other people’s money or to borrow to buy votes. Many times they promise to tax the rich, but most often they end up putting in additional taxes on which focus on income earners in higher brackets -- people who don’t have...(Read Full Article)

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