……….It was announced a few hours ago that the federal deficit for February was the highest monthly deficit ever, for the out of control United States Government. In the month of February it is being reported that approximately $220 billion more was being spent than we actually took in. As far as percentages are concerned, the tax receipts nationwide are down approximately 7% while spending is up a whopping 17%. If you sharpen your pencil and put it to paper, it should be very obvious that fiscal responsibility is not a priority with this Congress and the Administration in place. We need a notion of fiscal frugality!

……….This spending spree is doing nothing for our economy or the impending financial position that promises to doom this country down the road. We need to not only reduce spending, we need to stop spending for programs at the federal level that are not essential. Social Security and Medicare need permanent fixes. No more band-aids and no more blather. Now is the time for responsible action and immediate contraction of the federal bureaucracy. We also need to send a loud and clear message to states like California and New York that fiscal responsibility is the order of the day. Programs that they can no longer afford to fund need to be cut immediately. Balancing budgets at the state level is not a mandate for federal bailouts. Until these government entities understand the consequences, we are doomed to continue on the road to financial destruction.

……….If you are not aware of what awaits us, in the United States, just tune in and watch what is happening in Greece. Today the crisis is in Greece and tomorrow the crisis will turn to Spain, Italy and other European countries. A lot of these financial issues are predicated on a notion of selfishness and / or financial ignorance. As the clock continues to wind down we are definitely running out of time before the financial time bomb explodes. We can only sustain these debt levels for so long. As rising interest rates loom on the horizon we are most definitely setting ourselves up for the biggest of financial falls. In the end we have allowed the federal and state governments to shackle us to an unsustainable debt with the promise of untold wealth. Good luck as you move to collect your riches.