The Good News and Bad News about Debt in our Country
UPCOMING Workshop: Getting ready for your best retirement
North Dallas i January 12, 2019
We are going to kick off the new year by teaching you the habits needed in an easy to understand format so that you can live your best retirement tomorrow. As a bonus, Bob will discuss recent stock market troubles and talk about 2019 and the steps you need to take to protect and grow your money. Click HERE to register.
All you hear about is what a train wreck our finances our in the United States. Rightfully, the blame falls at the feet of the current politicians and all of the politicians that came before them. How about some good news.
On the first two months of the new financial year for the government (October and November of 2018) the federal government collected record total tax revenues of $454,653,000,000. That is tremendous news because money flowing into the federal government is important and record amounts are good right? Well, that is good stuff until you realize the government brought in $454,632,000,000 and spent $764,046,000,000. Said another way, they spent $305,394,000,000 more than they brought in.
This is only a symptom of the problem and the problem is Washington. We have $21.8 trillion dollars worth of debt and that is climbing every second of the day. Yes, Houston we have a problem. Having said that, the problem can get much bigger before we feel the problem or the consequences.
Of course, the bigger the problem gets the bigger the consequences. How can we be such a great country when we have such enormous financial liability created by our politicians? It is going to be tough to maintain that greatness.