During the Barack Obama administration, we were quick to rail against the ridiculous spending habits of the federal government. Ballooning federal spending had the debt calculator spiraling toward $18 trillion. Unfunded liabilities were in the hundreds of trillions of dollars. He was a Democrat, though, and we know Democrats love to spend tax dollars.
The spending led directly to the sweeping Tea Party victory in the 2010 mid-term elections. Before it was mislabeled a racist hate group, the TEA party stood for Taxed Enough Already. The people were fed up and they sent conservative representatives to Congress to finally get a handle on federal spending.
When little happened, more conservatives were elected in 2012 and 2014 — they all promised to get federal spending under control and actually pass a ... gulp ... balanced budget.
In 2016, Americans did the unthinkable and elected a non-political businessman to maybe, finally, get a hold on federal spending. With Donald Trump’s ascendancy to the presidency, it signaled again that Americans wanted to get federal spending under control. When he took over, the debt was hovering somewhere around $21 trillion.
The economy is humming right along. Wall Street is hitting heights never before seen. Unemployment is at an all-time low. Tax revenues are off the charts. What a great time to pay down ...
HAHAHAHA ... FOOLED YOU!
No, Washington continues to spend, spend and spend some more. The numbers, according to usdebtclock.org are staggering. One of the scariest is the U.S. debt-to-wealth ratio — for every $1 in wealth, there is $1,038 in debt.
We have been big proponents of the Trump presidency and we believe that he has done enormous financial good for this country. But where is the outcry over spending? Crickets. Please, Mr. President, as a New Year’s resolution: get a handle on this mess, if it is even possible at this point.
To sum up our dire future financial debt circumstances, in the 13 minutes it took to write this editorial, the federal debt increased by $21,885,686.