The federal government and the American people are 17 1/2 trillion dollars in debt (updated now to nearly $20 trillion), and climbing. This fact is behind Congressman Paul Ryan’s effort to balance the budget over 10 years and avert a inevitable disaster that will fall on America if the budget mess isn’t solved. Much controversy exists over whether he’s balancing the budget the correct way. Progressive democrats always argue for more taxes, which they call “revenue”. Conservatives contend that the government doesn’t have a taxation problem it suffers from a gross overspending problem. A few common examples prove that the conservative position is precisely right.
Most Americans live with a modest income; as of June 2013 the median household income in the US was $52,000 a year. Somehow they balance their budgets on that salary. There are many examples however of highly successful people making far more money and yet they end up bankrupt. A short list includes: Sir Elton John, Warren Sapp, Willie Nelson, Gary Busey, MC Hammer, and Mike Tyson. How is it possible that these people who each earned millions of dollars in some cases hundreds of millions of dollars could end up penniless?
One has only to look at Americans who live happy and blessed lives on modest incomes to realize it’s not how much they earn that’s the problem. They quite simply spent more money than they earned. If you earn $50 million per year, but spend $70 million a year, you will go under. That same spending mentality would exist if that same person raised their income to $70 million a year, because they would also increase their spending and would likely spend $90 million a year. The United States behaves the same way. We still have a massive deficit this year despite the record tax revenues the IRS is raking in.
We have a federal government, and politicians who run it that would overspend any amount of money that they get their hands on. We do not have “revenue” problems anymore than Elton John or Mike Tyson had revenue problems. Our country is bankrupt, and they declared bankruptcy, because of gross over spending. It’s that simple!