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Tipsheet

Debt Day Comes Sooner This Year

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.
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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.
 

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