Last Friday, President Obama signed into law the 2016 Federal Budget (“Omnibus Spending Bill of 2016”). It includes $1.1 Trillion in government spending. Our wise and faithful US Senators and Congressmen have also agreed on a plan to reduce taxes by $622 Billion – most of which allegedly doesn’t impact Main Street America.
It should also be noted that the United States is currently in debt somewhere between $16 and $22 Trillion! A shocking number!
Now when you put all that information together: Rising Debt, Increasing Budget & Decreasing Taxes, what do you get? Sounds like a recipe for disaster to me. You can’t have money going out faster than it comes in!
Despite the fact that our government has taken the liberty to spend as much money as they can with no plan for paying it back, there’s no reason we all can’t be personally fiscally responsible. There’s no better time for each of us to be responsible citizens and to begin paying off all debt and saving for the rainy day that is sure to come in the future.
The message is simple: take care of yourself and your family; the government will not be there to bail you out when you can’t pay your bills. After all, It can’t even balance it’s own accounts!
What you should do:
- Start saving money, even if it’s just $20/week.
- Pay off all debt. Stop buying stuff you don’t need!
- Save more money. You may need it soon!