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The Economic Burden of Excessive Government Spending

Updated: Jul 12

Recent information shows that prices have gone up by almost 3.5% over the past year. This is still more than before the pandemic, making it hard for many families to get back to where they were financially in 2021. One of the main reasons for this is too much government spending. In 2023, the federal government spent around $6 trillion. That’s about $47,200 per household, leading to a nearing $2 trillion deficit. Rezny Wealth Management often points out that spending on unnecessary things is part of the problem. We believe this kind of spending makes it hard for families to recover financially.

The Biden administration’s policies are making the deficit worse by adding more to it. Reducing the deficit would help the economy, but many politicians don’t seem to care and act like the federal treasury has unlimited money. According to the Federal Reserve Board, in 2023 alone the Federal Reserve printed a range of 4.5 billion to 8.6 billion notes, valued at $166.5 billion to $190.5 billion

Since December 2022, some government spending has raised concerns. For example, nearly $50 million was given for a “diversity and inclusion” scholarship in Burma, a country with serious issues like corruption and poverty. Another few million went to support “girl-centered climate action” in Brazil through a Dutch organization focused on diversity in environmental activism rather than more urgent problems. Additionally, over $100 million was used to promote a critical race theory-based model in public health, which many see as unnecessary. To add to that, hundreds of thousands went to an anti-Israel group supposedly to fight “disinformation,” even though this group often spreads misinformation. Lastly, roughly a few hundred thousand was approved for creating “diverse and inclusive” bird-watching groups, which many people think is not needed.

We at Rezny Wealth Management constantly warn about how this kind of government spending can hurt the economy. Wasting money on projects like these is a sign of an inefficient and bloated government. As Congress works on the 2025 federal budget, they need to carefully review these agencies and programs to find ways to save money for taxpayers.

General informational content only. Not tax, legal, or investment advice. Consult a financial professional before making investment decisions. Conduct due diligence.All investments involve risk, including potential loss of principal.


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