In 2021, we paid more than $562 billion in interest on that public debt, which according to journalist Rob Garver, “is more than the annual budget of every individual federal agency except for the Treasury, the Department of Health and Human Services (which manages the Medicare and Medicaid government health insurance programs), and the Department of Defense.”
This is financial tyranny. The U.S. government-and that includes the current administration-is spending money it doesn’t have on programs it can’t afford, and “we the taxpayers” are the ones who must foot the bill for the government’s fiscal insanity.We’ve been sold a bill of goods by politicians promising to pay down the national debt, jumpstart the economy, rebuild our infrastructure, secure our borders, ensure our security, and make us all healthy, wealthy and happy.
None of that has come to pass, and yet we’re still being loaded down with debt not of our own making. Let’s talk numbers, shall we? The national debt (the amount the federal government has borrowed over the years and must pay back) is $30 trillion and growing. That translates to roughly $242,000 per taxpayer.
John W. Whitehead Archive
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