America is the greatest country in the world, yet our continued greatness is threatened by our growing national debt. Fiscal irresponsibility is causing a great nation to decline. As our national debt continues to increase, the more we have to pay to service it, the less money there is for defense, education, rebuilding our infrastructure, building our Social Security Trust Fund, Medicare and Medicaid programs. In 1965, mandatory spending consumed over a third of the federal budget, and today it is approximately two-thirds. In 20 years there will be no funds left over if we do not reverse this trend. .
When the government spends excessively, the economy suffers, unemployment rises, and taxes increase. The government does not create jobs; they destroy jobs when they spend excessively by taking resources from the private sector.
Examples of our Country's rising deficits: Source: US Government and US debt clock.org:
Source: US Government and usdebtclock.org
Interest on National Debt: In ten years our country’s interest payments on the national debt will be almost four times what we spend on education, energy and transportation combined. What is alarming is that the net interest spending today is at historic low interest rates, which obviously will rise, and then both the world and U.S. economies will go into an inflationary cycle.
The Trump Administration is focusing much energy on addressing our national debt in the areas of government waste, elimination of duplicate programs and departments that do not benefit anyone and the overblown Federal bureaucracy.