Congress just spent over $1.2 trillion on a massive omnibus package.
Only 24 Senators voted against this wasteful spending bill.
The national debt is ballooning to over $34 trillion…
And a trillion a year of wasted interest payments are going to bankers, investors, and Communist China.
The Biden administration has projected a $1.6 trillion deficit for the current fiscal year.
The Treasury has been borrowing at a $3 trillion annualized rate.
This additional debt, at today’s interest rates, will increase the Treasury’s annual interest payment by over $100 billion.
Higher interest rates mean the U.S. will pay $1 trillion yearly to pay the debt.
Where did that money go?
Well, here are 5 examples of your taxpayer money being wasted in the new Biden budget…
1) Money to Radical politicized bureaucracies
$3 million to the Department of Homeland Security (DHS) and financial services funding bills to support “climate resilience” and “equity in manufacturing.”
2) Millions in pork for climate and equity slipped into the government funding package
Sens. Elizabeth Warren, Ed Markey, Chuck Schumer, Kirsten Gillibrand, and Rep. Stephen Lynch are only a few of the 100 Senators and 435 in the House of Representatives who slipped millions of dollars worth of earmarks into the appropriations package.
For example, Warren and Markey requested $1,150,000 to support “climate resilience and equity” for downtown Boston’s Christopher Columbus Park and Long Wharf.
Schumer and Gillibrand requested $332,000 from the Small Business Administration for a company called FuzeHub to advance “equity in manufacturing innovation.”
3) Taxpayer-funded “underground” railroad for illegals
Millions go to NGOs (Non-Government Organizations) that fly illegal aliens directly into our communities (using the CBP One App) and “parole” them.
4) America’s Death Spiral of Debt
According to research fellow E.J. Antoni of the Grover M. Hermann Center, America is in a debt crisis we may not get out of. “Interest on the debt is now so large that it exceeded 60% of all personal income taxes collected,” said Antoni.
Antoni writes:
“Between new debt issued to cover current deficits and old debt being rolled over, the Treasury will auction about $10 trillion of debt this year, much of it having an interest rate of about 5%. This is less than one-third of the federal debt, but it will cost $500 billion annually in service.
The rest of the debt, about 70%, will cost another $500 billion annually because the interest rates on the remaining notes and bonds are still relatively low. While that buys America some time to try and diffuse this debt bomb, it still means we’re paying over $1 trillion a year just in interest on the debt.
This is already the federal government’s third-largest single line item in the budget. It will grow to first place in just a few years. Interest on the debt is now so large that it exceeded 60% of all personal income taxes collected in February. This is the Treasury’s largest source of tax receipts, and most of it is being consumed by interest.”
5) What all this Government spending means for you and your family
Trillions of dollars are going toward interest payments, not to courts, roads, bridges, border security, the military, or other federal programs—just to the interest.
No company or family would be able to survive spending and accruing debt like the federal government.
For example, if a man constantly spends more than he earns and uses debt, like maxing out his credit cards, getting a mortgage on his home, and borrowing money to finance his spending, he’ll be underwater pretty quickly—he’ll eventually lose everything and go bankrupt.
All those debts he accrued would have interest payments, which, of course, increase with time. If he doesn’t stop spending, the cost of paying off his debt will eventually exceed his income.
Thanks to our incompetent government representatives and bureaucrats, that’s what’s happening to our nation.
Currently, the US Public Debt Per Capita (the amount each citizen owes in US debt) is over $101,000, up from $93,000 one year ago.
3 Action Steps:
1) It’s time to change Congress and vote in common sense.
2) Help us defeat the Senators who vote for wasteful bills. Donate to our Turn America Around Fund.
Help us transform the upcoming election.
Can you please give a $10 donation or more today to help us transform culture and politics in our nation?
We can’t do this or win without you!
You can donate to our Turn America Around Fund in the following ways:
- Donate Online HERE.
- By phone – Call 1-866-382-2226.
- By mail – Send a check to:
Turn America Around Fund
2817 West End Avenue, Suite 126 #488
Nashville, TN 37203
Thanks in advance for your help and support.
3) Order my new book, The Great Deception: 10 Shocking Dangers and the Blueprint for Rescuing the American Dream
Chapter 3: Danger #2: The Growing Economic Crisis: 7 Misunderstood Problems That Are Crippling Our Economy delves into the heart of the economic storm that threatens the very foundation of the American Dream.
Chapter 3 exposes the seven misunderstood problems crippling our economy, a searing exploration of the perilous path we tread due to economic mismanagement by radical ideological socialist politicians and bureaucrats.
Unchecked government spending is pushing the nation to the brink of economic collapse. The looming specter of inflation, deficits, and soaring debt threatens to shatter the stability we once took for granted. The radical socialists, in their pursuit of misguided policies, are inadvertently devaluing the very currency that forms the backbone of our economic strength.
The Great Deception: 10 Shocking Dangers and the Blueprint for Rescuing the American Dream exposes lies, myths, and distortions from the media and politicians.
It gives you answers and solutions to turning America around…
It allows you to share these dangers and a solution to cutting through the deception with friends and family.
It exposes under-the-radar and little-known behind-the-scenes reasons America is falling backward and how to make it move again.
Click here to get The Great Deception – Craig Huey
You can order the book on Amazon HERE.
You can also get an autographed edition online HERE or by phone at 615-814-6633.
You can also send a check for $26.13 (including shipping) payable to Media Specialists and send it to this address:
Media Specialists
1313 4th Ave N
Nashville, TN 37208
One Comment on “Your Tax Money at Work: $1.2 Trillion Waste and Partisan Ideology Plunder – 5 Shocking Ways Your Money is Misused”
Thank you Steve Justus for helping make our articles better by catching some of the mistakes that slip through the cracks.
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