(UnitedVoice.com) – The US government has spent trillions of dollars over the last year in response to the COVID-19 crisis. Republicans tried to have the most impact with the least amount of money, while Democrats have been spending cash like it’s going out of style. Now, we’re seeing the result of that recklessness.
On April 15, Truth in Accounting released the “Financial State of the Union 2021” with up-to-date information that was quite alarming. According to the report, the US has a $123.11 trillion shortfall, well over the $28 trillion the government claims it is. That means the American people would each have to fork over $796,000 to put the country into the black again.
Our new report on the Financial State of the Union is now available. We found that the federal government's financial condition worsened by nearly $10 trillion in 2020. Read the full report here: https://t.co/WpODeytoJT pic.twitter.com/aEsFMt5xgl
— Truth in Accounting (@truthinacct) April 15, 2021
The report measured the debt using the country’s liabilities, federal assets, Medicare and Social Security costs that are promised, but not funded. The amount of money owed is going to saddle future generations with the responsibility of paying it — and the Left wants to just keep right on spending.
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