Friday, November 24, 2017
Just think about these numbers. Our federal government outlays for 2017 are $3.980 trillion, while the tax income revenues for 2017 are $3.315 trillion. That is a deficit of $665 billion for this year alone. The total federal debt is $20 trillion after eight years of President Barack Obama. Each year we have had a deficit.
What are our choices to change direction from financial oblivion? It is obvious that we must cut government outlays, raise our national income by cutting taxes and passing a balanced yearly federal budget amendment to the Constitution so the Federal government will be forced to balance the national budget every year.
Under past President Obama, the Federal Government has had no budget but operated on a “continuing resolution” instead. No plans, No future.
Hopefully this will change under President Trump.