The Federal government is currently spending at a rate of $434,000,000.00 per hour.
If we assume the Federal government were to cut:
- No NASA
- No Navy
- No Army
- No Air Force
- No Marines
- No Nuclear Weapons
- No Defense Research
- No Veterans Services
- No Federal Funding for Police
- No Federal Funding for Fire Protection
- No Federal Funding for Education
- No Federal Transportation Funds
- No Congress
- No White House
- No Waste Management
- No Street Lighting
- No Pollution Abatement
- No Housing Development
- No Cultural Services
The government would still be short two weeks worth of funding for the year, requiring it to issue more debt to avoid bankruptcy.
Listen to Prof. Antony Davies of Duquesne University explain the current debt situation in terms everyone can understand.
Toward the end of the video, Davies says that if we turned the Federal government into nothing more than a glorified nursing home, it would still be operating at a loss. I want you to consider the vast sums of wealth that are flowing into the pockets of old people through Federal programs for just a moment.
Then look at this chart.