Today our U.S. Government Debt is growing faster than at any time in our nation’s history. But why is our government debt growing so fast?
The answer lies in how our federal budgeting and spending process works. Each year, Congress and the President approve a budget that consists of government tax receipts and government expenditures. If the tax receipts exceed the expenditures (this never happens anymore), then we have a budget surplus. If the expenditures exceed the receipts Read the rest of this entry »