The first step toward recovery for any addict is to admit that there is a problem. If there is no perceived problem, then obviously nothing will ever get done. So when Nancy Pelosi says things like “So, it is almost a false argument to say we have a spending problem”, it’s no wonder why we’re more than $16 trillion in the hole.
I decided to do the math. Since Obama has been in office, the Federal government has spent an average of around $3.7 trillion per year. This comes to more than $10 billion per day, $421 million per hour, $7 million per minute and a whopping $117,000 per second. Look, Democrats can whine all day about how Republicans are unwilling to raise taxes but $117,000 per second of federal spending should be too much by anyone’s estimation. Besides, taxes are already too high. If we want to grow economically and cut the deficit, we have to permanently lower taxes and spend less. Sorry, Nancy. We have a spending problem. There’s no use in denying it any longer.