With the federal government having a national debt of around $14 trillion, on which taxpayers must pay interest, Congress and a great many taxpayers still do not want to face the financial facts.
But as bad as the national debt is, that is just “part” of our federal government’s economic problems, which adversely affect all of us.
What about Social Security, Medicare, Medicaid and similar promises?
Well, we have taxes for those, don’t we?
Yes — but! The taxes are not covering the obligations for eventual payments “out.”