Debt Day Comes Sooner This Year

Posted: Apr 27, 2009 12:16 PM
For Americans from coast to coast, Sunday, April 26 marked our nation's Debt Day. Debt Day is the day during the fiscal year – which runs from October 1, 2008 to September 30, 2009 this year – on which government spending exceeds revenue for the first time during the year.

Last year's Debt Day fell more than three months later, on Aug. 5.

Judging by the penchant for spending we've seen from Congress and the White House, I think it's safe to say that this infamous day will be creeping earlier and earlier for the next several years. It's simply another symptom of a government that spends too much, borrows too much, and taxes too much.

I come from the strong Minnesota culture of thrift, spending only what I truly can and eschewing debt.  But, the trend in Washington is just the opposite.  It’s very much a “spend now, and our children will pay later” attitude.  That’s why I voted against the trillion-dollar-plus so-called stimulus bill, the nearly-half-a-trillion “omnibus” spending bill, and the multi-hundred billion-dollar Wall Street bailouts.
It’s high-time your family budget took priority here in Washington – and that means not just looking out for your finances today, but also looking out for your children’s futures.