Chart of the day: “Out of Control”
Often times, you will hear politicians or commentators use the terms “out of control” or “runaway” to describe federal spending. The chart below clearly indicates that those terms are entirely appropriate. Indeed, they may be understating the matter. A more appropriate term might be “insane.”
Honestly, how else can you justify increasing spending at the federal level by 287.5% when median income has only gone up by 24.2%. Where does that money come from? The Democrats’ favorite trope that the “rich” are an unending resource that has barely been tapped has been thoroughly debunked by numerous entities. There isn’t enough money there to cover even one year of this insane spending, even if you were to forgo taxation and simply take every single penny the rich have.
Nope, this is done by borrowing, and now we teeter on the brink of a sovereign debt crisis the impacts of which most people do not yet even remotely understand.
Nothing justifies increasing spending 12 times faster than incomes have increased. This is vote-buying and failed social engineering, funded with loans than our children (born and yet unborn) have been forced to co-sign. It is unconscionable.