Understanding Government Spending and the National Debt

Our tax dollars are supposed to be used to pay the debt, take care of the elderly, and help the less fortunate in the United States. However, how will we ever get out of debt if our government keeps giving away our hard-earned money? This article aims to address common misconceptions and provide insights into budget allocation and government spending.

How the Budget Process Works

The representatives in Washington, D.C. have the authority to determine what will be included in the budget. The budgeting process involves several steps:

The budget is prepared, presented, and justified by government agencies.

The White House reviews the proposed budget.

The budget is then sent to Congress for review and approval.

If you're genuinely concerned about the budget and how your tax money is spent, it's recommended that you write to your Congressional members and senators. While they may send form letters, personalized responses might not be guaranteed.

Enduring Debt and Financial Stability

It's essential to understand that worrying about getting out of debt might not be wise. Historically, reducing the national debt has led to financial crises. The goal of government leaders and international bankers is not to eradicate the national debt but to manage it effectively.

Economic Benefits and Public Welfare

Economists argue that higher taxes are recouped by workers within 2–3 years, and that increased benefits such as free college, medical care, daycare, and maternity leave can actually increase public happiness. Medical expenses are the leading cause of bankruptcy in the United States, whereas this issue is almost non-existent in other countries.

Moreover, billionaires play games with money and keep score, accumulating excessive wealth that they don't need. A significant number of billionaires, at least 1000 last year, failed to file taxes. This highlights the need for a more equitable distribution of wealth and resources.

The Case for a Single Payer System

According to an MIT economist, 9 percent of U.S. GDP is currently spent on medical bills by the government. Switching to a single payer system could cover every individual in the U.S. with a basic healthcare plan, eliminating deductibles and copays. An educated and healthy population can significantly increase national wealth.

Bidenomics and National Debt

Biden's administration is not simply giving away hard-earned money; it’s borrowing it to add to the national debt. This borrowed money will need to be paid back with interest by future generations. Critics argue that this approach, known as Bidenomics, is detrimental to long-term economic stability.

Conclusion

Understanding the complexities of government spending and the national debt is crucial for informed citizens. By supporting and advocating for policies that align with your values, you can play a role in shaping a more equitable and prosperous future for all Americans.