Photo: Getty Images
Federal spending has continued at a record pace, and as a result, the ten-year deficit is now $2.1 trillion, according to the Congressional Budget Office. At this rate, America is headed for a disaster caused primarily by our out-of-control spending.
Former White House OMB Director Russ Vought told Fox Business, "We're headed towards a fiscal crisis if we don't get a handle on this fiscal side of the House that has just been so unsustainable."
Vought says American families would never be able to run their finances the way the federal government does. He said, "If they rely on their credit card too much, they have to go make changes to live within their means. We have a federal government that doesn't operate on any basis of those sound principles."
Vought thinks that at this rate, we are headed for a financial crisis that we probably won't even see coming.