- Yearly deficit = $1.08T
- National Debt is up $4.15T from last year, at $26.7T
    - $81K ($69K last year) per citizen or $215K ($184K last year) per
      taxpayer
    - By 2023, interest payments will exceed national defense
    - WOW!
    - Covid and CARES make it 137% (was 107%) of GDP.
        - Last seen in 1946, after WWII, at 119%. Recession

Scaled to a person:
- Personal income: $48,860 gross -> $37,100 net -> $3092 net/month
- Personal spending: $3992 net/month
- Personal debt: $10,800 yearly
- But outstanding balance on card: $267,850
    @ 2.3% debt rate
        - Minimum payment = $2503/mo (10yr payoff) leaving only $589
          disposable/month.
        - Interest only = $517/mo
        - Doesn't account for changing (rising) interest rates, new debt
    - Experts predict greater than 30 or 40 years.
- How to pay off debt
    - Raise revenues: no politician will raise taxes
    - Lower spending: reduce "wasteful spending."

Pork Barrel Politics
- Citizens Against Government Waste tracks
    - Targeted policies for regional/special constituents
    - "Big Pork Book"
- 10,106 projects @ $19.6B for fiscal year 2009
- 232 projects (42.3% increase) @ $14.7B (116.2% increase) for fiscal
  year 2018
Record years
    - 2006: $29B
    - 2005: 13,997 projects
- Wasteful or Necessary? Examples:
    - Augusta University First Tee Program: $300M
    - North Pole, Alaska: $2.2B for tourist infrastructure projects
    - National Wild Turkey Federation
- Only .003% of spending, so it wouldn't change a thing.

- MASSIVE cuts or MASSIVE taxes are necessary