Hi Everyone, welcome back to Fiscal Friday, and welcome to 2015! It’s a new year. Out with the old and in with the new (Congress, I’m talking to you). While Americans have made resolutions to lose or save, politicians continue to spend. That’s right, with the new year, comes new debt, funded by you, the taxpayer.
Let’s start with the basics. Our 2015 Fiscal Year budget estimates the government will spend $3.9 trillion, while earning $3.3 trillion. That’s a planned deficit of $564 billion. What private business would do this!?
We already know Social Security is on a downward spiral, but disability insurance benefits are estimated to run out by late 2015. Heck, even the White House budget shows an estimated $138 billion dollar deficit for Social Security. (blows New Year horn)
Defense spending is up $22 billion this year, to $628 billion, making Defense spending 54 percent our discretionary budget. Nice priorities America.
Ironically, the line item “HHS health savings” runs a $2.1 billion dollar deficit. So... No savings.
Allowance for Immigration Reform funding is officially underway, kicking off at $8 billion dollars. The government also budgets $2 billion in immigration income, starting this program at a $6 billion deficit.
Also why are we giving the International Monetary Fund $45 million as International Assistance? The IMF is not foreign aid.
In 2015, I’d like Americans to make a resolution to read our budget. Heck, just browse it. You deserve to know where your money is going.
In June 1999, President Clinton proposed paying off the national debt by 2015. Under Clinton’s budget, we would’ve continued our surplus and used this to pay down our nearly $5 trillion dollar debt . Then again, Clinton liked things going down…
This is Bess Byers, signing off for Fiscal Friday 2015, and remember, it’s your generation and your empowered.