A Tradition of Fiscal Irresponsibility
Simple mathematics:
Expenditures > Revenues = Debt
Expenditures > Revenues = Debt
Debt grows and compounds:
Is the Interest Payment on the Federal Debt Our Largest Welfare Program?
So, is so much of our money going to those who need it least?
Once a federal debt is incurred, payment on debt-service
is non-discretionary according to the Constitution.
So, is so much of our money going to those who need it least?
Once a federal debt is incurred, payment on debt-service
is non-discretionary according to the Constitution.
Massive public debt hobbles our economy
and negatively affects our foreign policies:
and negatively affects our foreign policies:
- Reduces funds available for discretionary public spending
- Reduces funds available for private-sector use and drives up interest rates
- Drains the US economy with payments to foreign investors, including foreign governments
- Limits our freedom to act in the world to pursue our national interests and ideals.