Time to Reclaim Our Economic Future
Jacob Honsvick /
Now that the congressional money tree has bloomed again, this time in the form of new stimulus money for the states, we are faced with the question of whether the federal government will ever learn self-control. Federal government spending has exploded over the last two years, causing unsustainable debt that is being compounded by pressing entitlements.
In fact, in January 2009, total public debt outstanding was $10.6 trillion. Today it surpasses $13.2 trillion—despite the cries of the American public for the federal government to control its spending spree.
The worry over government intervention grows even worse when we consider that after years of relatively stable levels of economic freedom, America’s economic freedom dropped in a single year to “mostly free”” status. And that fall has been followed by even more interventionist and expansionist policies this year. (more…)