Saturday, April 02, 2016

Kids Born in 2016 Hold $42,000 in Public Debt

Kids Born in 2016 Hold $42,000 in Public Debt:
"Out of control spending drives national debt to unsustainable levels and the government knows it.
The recently published 2017 fiscal year House Congressional Budget Resolution even features a chart titled “Spending is the Problem.”
DS FBIP 2016 share of public debtBut Congress needs to practice what it preaches.
The very same document proposes spending $57 billion more on discretionary programs than what Congress proposed to spend on this budget category last year.
...By the end of the decade, our national debt held by the public is expected to reach $23.6 trillion, or 85.6 percentage of GDP (gross domestic product).
This is expensive for Americans today, but crippling for the next generation.
When new parents worry for the future they rarely consider how the national debt will impact their families. Unfortunately, if left unchecked, our growing debt will pose a serious threat to American families’ financial well-being..."
The 2015 “Wastebook,” put together by Sen. Jeff Flake, R-Ariz., found 100 examples of government waste that cost taxpayers $100 billion. 
On top of that, the government spent a staggering $125 billion on improper payments in 2015. 
That means that the government paid $125 billion dollars to people who were not supposed to get paid, or for goods and services the government did not receive.

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