Current budget deficits:

[gsvol]

"Knowledge is an inherent constraint on power."
~ Thomas Sowell

By: Larry Walker, Jr.

Between fiscal years 2008 and 2010, federal government revenues have declined by $359 billion (-14.2%),

and government spending has increased by $738 billion (+24.7%),

thus leaving a 38.9% hole in the federal budget.

In fact, in this fiscal year alone, our public masters will spend a total of $3.7 trillion while taking in a mere $2.2 trillion, which means that the Congress is spending 71.8% more than it is bringing in.

Do you think this might be a problem? If not, stop reading, and just vote for the nearest politician promising: more of the same.

If so read on.

(practically a must read for any responsible citizen of this country, loads of good facts and figures.)

In conclusion, the federal government has created a 71.8% gap in its 'fiscal year 2010 budget', by increasing its own spending faster than any other growth rate on the planet.

With U.S. economic growth at a mere 1.9%, it doesn't take a genius to figure out that we have a problem. The problem is out-of-control spending.

No viable entity can spend money at a higher rate than it brings it in, and stay in business for very long. But, the U.S. Congress is not a viable entity.

This congress is already $13.5 trillion in debt, and is currently on pace to spend 71.8% more money in FY 2010 than it will take in.

It's time for this to end.