This is the reason for this situation. The United States hit yet another record in taxes and spending, as the government raked in nearly $1.2 trillion in revenue but spent $386 billion more than it collected, according to the latest monthly report from the Treasury Department. The Monthly Treasury Statement for February shows the government collected $1,185,613,000,000 in taxes since the beginning of the 2015 fiscal year in October. However, the United States spent $386,537,000,000 more than it collected.
The total tax revenue was nearly $95 billion more than the government collected during the same five-month period in fiscal 2014. The report comes more than a month after Obama called for a $74 billion spending increase in his budget for fiscal 2016.
The problem is as we have been saying for years, our problem is not a tax problem; it is a spending problem. Entitlements are out of control. Waste and fraud are never addressed. The solution to all problems is to spend more money according to Washington. Proper solutions are difficult and will take sacrifice by all. If we do not take immediate action, the results are inevitable; default or hyperinflation. These results will bring far more pain ultimately than immediately starting to cut federal spending by ending all give away programs, turning functions that should be at the state level back to the states, no more sending money to Washington to be returned to the states, and starting to require $0 budgeting by all federal agencies.
This will require a new mindset in Washington. That will require new minds in Washington. Let us begin today. The establishments from both parties must be replaced. All Freedom Loving Americans can participate. We know the Marxist/Progressives want to continue down the path of higher debt because it is another way to destroy capitalism and bring about the transformation to a totalitarian Marxist state.