If you and I max out on our credit cards and don’t make enough money or have enough savings to cover the monthly bills, we must figure out how to either make more money or spend less. If we try to print money on our home office printer to cover the balance, we will go to jail for forgery.
If the United States federal government had a credit card, it would as of February 2022 have a balance of some $30 trillion (30,000,000,000,000).20 When the first edition of this book was published in late 2020, the July balance of that year was $26.5 trillion; it has increased by a whopping $3.5 trillion in 20 months, largely due to massive bipartisan individual rights violating Covid relief packages. States and local governments have an additional $3.3 trillion in debt, an increase of $1.3 trillion since July 2020.21 And this excludes unfunded liabilities for welfare statist programs such as Social Security and Medicare. That’s how much debt we’re in. Soon there won’t be enough money for the government monthly minimum credit card payments.
To add insult to injury, the government credit card doesn’t appear to have a practical spending limit, which means that our politicians have little incentive to end the shopping spree unless and until we tell them to. And if we don’t tell them to stop, the government eventually will run out of money, in the worst case ending in bankruptcy.
Think Right or Wrong, Not Left or Right 