Federal Deficit as a percentage of GDP by administration (above)
Federal Deficit: The shortfall created when the federal government spends more in a fiscal year than it receives in revenues. To cover the shortfall, the government sells long- and short-term debt securities (Bonds). [source: Investco]
Federal Deficit: The amount by which a government's expenditures its tax revenues. The difference is made up for by borrowing from the public through the issuance of debt. Also called Federal Debt. [source: Investor words]
Who do you think is FORCED to pay back the Federal Debt PLUS the interest on that accumulated debt? ALL OF US outside of Washington D.C. They will tax us every which way possible. They'll even be sly about it and call the tax a fine, a fee, a penalty. And I want for you to stop and think about all of the 100s of billions of US dollars that have been spent already and what do we have to show for it. The dems were given the money, they spent it on their friends and now what? 2 1/2 years later we have a high unemployment rate, the infrastructure they claimed the first stimulus was supposed to fix is still broken and most everybody on main street is still suffering. What kind of a $1 trillion investment is that?! That's the point. It wasn't an investment that would benefit the whole of American society. That money went to benefit their political careers.
This is the people's (public) debt We are the government. We vote in public representatives to manage the government on our behalf. They have a fiduciary duty to uphold. Meaning they are supposed to be looking out for OUR BEST INTEREST not theirs. Our elected officials have been spending IRRESPONSIBLY as if they had a credit card with no limit. They give themselves raises, vote themselves great benefits and spend that money on their buddies by padding every bill that gets signed into law with EARMARKS (pork) that are government grants. Federal subsidies also go to their friends. This money is paid out to their campaign contributors/supporters. BOTH PARTIES are guilty of this egregious spending practice. To put it bluntly, these dirty rotten scoundrels have been robbing us blind and then have the nerve to ask for more.
This is the people's (public) debt We are the government. We vote in public representatives to manage the government on our behalf. They have a fiduciary duty to uphold. Meaning they are supposed to be looking out for OUR BEST INTEREST not theirs. Our elected officials have been spending IRRESPONSIBLY as if they had a credit card with no limit. They give themselves raises, vote themselves great benefits and spend that money on their buddies by padding every bill that gets signed into law with EARMARKS (pork) that are government grants. Federal subsidies also go to their friends. This money is paid out to their campaign contributors/supporters. BOTH PARTIES are guilty of this egregious spending practice. To put it bluntly, these dirty rotten scoundrels have been robbing us blind and then have the nerve to ask for more.
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