Government expenditure is the source of the national debt. This results in a budget deficit.
Government always spends more money than it takes in. This is because government spending, as one might imagine, is politically popular.
Citizens have faith in government assistance because they know they’ll have a lifeline if things get rough. A financial collapse threatens any administration with heavy debt, regardless of politics.
You can check the current debt for yourself right here. The national debt per person is nearing $100,000, which is well over what the average American makes every year.
At the same time, we are also experiencing corporate debts, which are also at an all-time high.
Government programs are overspending so much. It’s just getting sad now.