Goverment Budget Waste

The 1950s was the last time the Unit States budget was balance. Since the 1960s government cost overruns have been accepted by the general public and meet with little resistance due mostly with minor (on a government scale) changes in the national budget. This all change in the 1980s, when during the President Reagan’s tenure, the cost of running the government exceed all prior periods combine. An other significant occurrence in the 1984 elections, Ross Perot brought to the public attention how badly the government mismanaged its funds in detail.

M. Gross stated (1992) “The debt is a double-barreled whammy. Not only does it keep the long bound up, but because the government is constantly borrowing new money, the annual interest carrying charges regularly rise as well. In 1993, with an expected $348 billion deficit, we will be paying $315 billion in interest just to carry the debt. The debt and deficit create a joint spiral, finally leading to fiscal oblivion.” (p.96)

And what does the American public get in exchange for this fiscal waste? More fiscal mismanaged and secrecy about it handles the funds it does receive.

M. Gross in another example shows government abuse with the social security system (1992) “It’s been going on for some time, and Social Security fund now has government IOU’s for $330 billion.” (p.208) Money that should go to Social Security is being diverted to other departments. Is this legal? Is this the way the government is supposed to handle our money responsibly?

We must regain control of government spending or at the current rate the government will exceed the general middle class abilities to pay for their survival, there by the virus (government) will kill the host (average American). The middle class has always been recognize as the economic backbone of the nation. With the collapse of the middle class, all others will follow.

M. Gross points out (1992) “The United States government spends $270 billion a year on overhead, more than the entire annual budget of France.”(p.163) This is just on running the government alone. A $170 billion is spent on a mysterious other service, which the government routinely abuses to hide their irresponsibility. A lot of cost in this department alone cannot be justified.

All this is a result of the United States government need to shovel money into its coffers because its waste goes uncontrolled. Government expense is increasing fantastic rate.

The Government mismanagement of monetary funds over the last twenty years impacts the entire national economy, and could eventually cause dramatic effects on the economy of the country as a whole at the present rate.

M. Gross states (1993) “Washington has been in a state of denial, refusing to admit that the federal government is irrational and the cause of much of the nation’s struggle and confusion…” (p.2) This impact reverberates through economy by higher taxes removed from wages. It is not just federal tax, but state and local tax also. Nearly every monetary transaction involves some form. You are taxed when you save money, you are tax when you make a purchase, you are tax when sale your home, and you are tax when you win cash prize, just to give some examples.

M.Gross states (1993) “The earnings of American workers have actually been going backwards.

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