Why Government’s Spending Practices Should Alarm You

When I began my self-employed career many years ago and received my tax bill at the end of my first year, I screamed “UNFAIR!”  Not many things in this life are fair, but when I had to pay 15.3 percent for FICA  tax (employer’s share and employee’s share) in addition to federal and state income tax, I was shocked.
I have paid my share of taxes over the years, as accurately as I could make the calculations, but I have always had a feeling that it is not fair that I pay a lot of money out and have no response, or no one to explain how they take accountability in spending this money.  Numbers from 1955 show that there were 22 workers in the private sector for every  one person working for federal or state governments.  That ratio today is now four people working in the private sector for every one in the government.  By the year 2030 it is forecasted to be 2:1.
Government does not create profitability.  Somewhere between today and 2030 there will be an adjustment happen that I think will demolish how we conduct our daily lives.  When this happens, it may be gradual or it may be that we all fall off a cliff.  However it happens, each of us need to be prepared by getting out of debt and having savings. That’s because governments are not fiscally sound these days, so it behooves each one of us to be personally strong, financially, so we can deal with problems with worldwide economies falling apart around us some time in the near future. 
Much has been predicted, as our government keeps printing money and over spending, about how one day this will have to stop and that confidence in the U.S. dollar will decline and leave us with a third-world economy.  Perhaps that will be the case and if it happens, will sink many other nations along with the U.S. My thoughts at this writing are to get out of debt, set aside savings in various forms, live simply, helps others more, and expect less.
For more information on how to live a truly principled financial life, contact me: (801) 292-1099, ext. 2.