Diary

President Obama Has a Gigantic Spending Problem

President Obama in 7 1/2 years has collected via the U.S. Treasury $19.97 trillion in tax revenues. During those 90 months, the federal debt rose from $10.63 trillion to $19.43 trillion, which is an increase of $8.8 trillion.

In July, the federal government took in $209.99 billion in taxes and spent $322.81 billion, running a one-month deficit of $112.82 billion. That is a staggering amount of debt for just one month.

The Bureau of Labor Statistics reported that there were 151,517,000 people employed in the United States in July and the $19.97 trillion in taxes the Treasury has collected during Obama’s 90 months in office is a staggering $133,000 per worker.

It is very obvious that President Obama and the federal government has a gigantic spending problem. The $8.8 trillion deficit was spent on many unnecessary programs and projects that have added little or no value to the country or its citizens. Most of these funds were spent to buy votes and make the citizens believe that the federal government is the solution to most problems.

In many cases outside of the military, the federal government is inept at creating and managing projects and programs. It is infuriating to see how carelessly our tax dollars are being spent and how the American people are not allowed to have any legal recourse or any objection.

It is time for the American citizens to take back our country and vastly reduce the size of the federal government. If not, financial ruin will come to all who live in this country. History over the ages has shown that countries and their governments that out spend tax revenues, eventually collapse from their foolish and unwise addiction to spending.