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SPENDING + DEBT = CRISIS

August 25, 2017

You have to hand it to our federal legislators. They really know how to spend.
 

For the first time ever, federal government spending topped $4 trillion. It’s up from $3.85 trillion the year prior. That equals $33,805 for each of the 118,562,000 households in the U.S.
 

Before we go blaming President Trump, it’s important to realize the spending is tied to former President Obama’s final budget.
 

But, if there’s one thing that all politicians can agree on – something that crosses party lines without issue – it’s that the budget will go up from the previous year.
 

What are we spending all this money on? Here’s a breakdown:

 

 

 

 

 

 

 

 

 

 

 

Combine the spending with the fact that our national debt hovers at or above $20 trillion and it’s right to ask – what is going on here?
 

Typically, and unfortunately, most people don’t care. There is no political will to deal with spending and the debt, even from President Trump.
 

The sad reality is that politicians won’t take action to slow the debt because so many people rely on that 66 percent chunk of the budget. It comes in the form of benefits like Medicare, Medicaid, unemployment, housing aid and more.
 

Still, it doesn’t take a genius to see the path we’re on. Spending and debt are out of control, and it won’t stop. Another crisis almost seems inevitable at this point.

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This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation.

Andrew Wood, Dan Simon and Alison Slezak are Investment Advisor Representatives. Advisory services are offered through CoreCap Advisors, LLC., a Registered Investment Advisor. CoreCap Advisors, LLC and Daniel A. White & Associates, LLC are separate & unaffiliated entities. 

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