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James Madison said, “A public debt is a public curse.” For too long, lawmakers have come to Washington on the promise of reining in the government, only to succumb to buying popularity with big spending programs.
This approach has buried “We the People” underneath an almost incalculable $31 trillion national debt, which has eclipsed the size of our entire economy, with trillions more on the way.
The cause for these mind-numbing deficits is not from taxing families too little. In fact, Americans will pay $4.8 trillion in federal taxes this year, which is nearly $1 trillion more than what they paid prior to 2019 after inflation.
House Minority Leader Kevin McCarthy talks to reporters at the Capitol in Washington, Dec. 3, 2021. (AP Photo/J. Scott Applewhite)
This year, for the first time ever, the federal government will collect over 10% of the entire U.S. economy in income tax revenue. But even soaring taxes cannot keep pace with federal spending that now tops $44,000 per household. Do you think you’re getting your money’s worth?
Meanwhile, President Biden has already