In August, the U.S. government collected $307 billion in taxes and fees but spent $687 billion, leading to a $380 billion deficit for the month. If this pace continues, it could result in a staggering annual deficit of $4.56 trillion.
When the government overspends like this, the burden ultimately falls on citizens through rising inflation and higher taxes.
The shrinking purchasing power of younger generations is a direct result of decades of reckless money printing and deficit spending by the government.
It’s a flawed system that perpetuates financial struggle and keeps people poor.