Think about this: Last month alone, our federal government spent $150.4 billion more than it took in from taxes, which are already too high in many cases.
You read that correctly: For all the tax money that Washington collected, it still had to borrow more than $150 billion for spending beyond that revenue! That is $150 billion added to our catastrophic $13.8 trillion national debt.
Of course, we must repay not only all that debt – much of which is held by Communist China – but also hundreds of billions of dollars in annual interest on it.
To put the November deficit figure in perspective, it is the biggest budget deficit on record for that month!
How does our country think it can keep getting away with that kind of reckless spending without severe economic consequences sooner or later – probably sooner?