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.