Good question. If you want an eyeful start by clicking on the image below (it will open in another window):
If those numbers don’t boggle your mind nothing will. If you move your curser slowly over the displayed numbers each tells you the source of each bit of credible data. Each number changes in real time.
You can check out all 50 states in the US and each country too.
So to answer your question, let me start by asking you one; do you own your own home? I realize a huge number of you rent, but IF you are buying, did you pay in full for the house or did you get a loan from a banking institution?
Most of us take out a mortgage when we buy. Most of us don’t have the spare cash to pay the whole price for a house.
After we buy, we still owe money for something we have now to use. We can live in it We also can exert control over it. We can fix it up, or paint it, or sell it if we choose. When we sell, what we still owe is paid off first. Anything left over is ours minus selling fees and taxes.
Our government too, did not have enough money coming in from tax revenue, to pay for all the things Congress wanted to lavish upon all of us, hoping we’d vote them all back into office.
Too many of you did. So they all felt, “Hey, this works! Let’s lavish some more upon them!” And they did; again and again and again. Many dollars were spent on many things. Some were very, very good, and some were so terribly wasteful as to demand that the congressman or senator be drawn and quartered- an ample punishment for selling us down the river but in reality it unfortunately really means voted out of office with no personal liability for their inept actions.
I’m not often a fan of capital punishment but I am always willing to make an exception for politicians.
This article piece is a bit dated from 2014, but it gets the point across.
Or go look up “government spending waste” and you will see what I mean. Billions of your dollars disappeared with nothing to show for it.
Your answer then lies in the way that government pays for pretty much everything. It rarely has the money to pay for the things it wants to buy NOW. Since it can, it borrows as much as possible to pay for something now with dollars others will have to pay back LATER, or it prints paper and waters down our currency.
Like a light beer it’s the old beer but with more water. I can taste a light beer and I can sure “taste” the effects of a watered down currency.
Government is quick to point out that we would not have had our economic growth if it wasn’t for them spending into the economy. I would counter that if we didn’t have to pay out so much in interest on that exorbitant debt, we’d have more TO spend into the economy.
Just as long as government controls its own purse strings, malfeasance and misfeasance will go on.