Rick Young Insurance's Blog

It seems like everyone in politics is discussing U.S. debt and deficit spending. But is there actually any effective actions to control the problem? The Budget Control Act did not have much of an effect.

How bad is the problem?

• The debt passed $15 trillion for the first time this month.
• The Obama administration has projected that the debt will raise by $26 trillion in a decade.
• Since 2003, public debt has raised by more than $500 billion every year.

The current debt is increasing so quickly due to consumption, and in the meantime tax dollars are going to interest groups. There needs to
be bigger changes to the current system than passing ineffective acts and raising the debt ceiling.