Tim Phillips on Townhall: $10.5 Billion Per Day
A young mother with four beautiful children in tow came up to me in Colorado Springs this week. She motioned to her young children – all smiles and laughs – and told me that each one of them is now nearly $52,000 in debt because of irresponsible government spending which has greatly accelerated during the Obama Administration. Children who aren’t old enough to pick out their clothes for school and still need help tying their shoes are in debt through absolutely no fault of their own.
She told me we had to do something about all the spending, to make sure people remember that every dollar the federal government spends goes squarely on the backs of hard-working American taxpayers.
I met this young family at a recent tour stop, as part of Americans for Prosperity’s “Obama’s Failing Agenda” tour. With stops already in Florida, North Carolina, Virginia and Colorado, I’ve once again seen firsthand how President Obama’s economic policies are hurting Americans from every walk of life. Across the country, we struggle with the lack of jobs, are worried about the national debt and want government to stop spending irresponsibly.
Over the last four years our national debt has risen nearly $6 trillion, and just last week the debt topped an astounding $16 trillion. To put that in perspective, $16 trillion is enough money to fund the US military, along with the military of every NATO country combined… for the next sixteen years! Government spending is projected to hit $3.8 trillion this year alone. Even after every tax dollar paid by Americans has been counted, the government will still overspend by another $1.13 trillion.
In your household, as with government, spending more than what you bring in means you must borrow the money and live on credit. That young mother of four has a budget and told me about the tough decisions her family must make. Her family doesn’t need to eat out and they have movie nights at home. Her family is responsible every day to make sure they can afford to pay the mortgage, buy food that costs more every month, and stay out of debt as much as possible. Even this little family understands the importance of budgeting better than President Obama.