Goverment_Budget_Waste

Goverment Budget Waste The Government mismanagement of monetary funds over the last twenty years impacts the entire national economy, and could eventually cause dramatic effects on the economy of the country as a whole at the present rate. The 1950s was the last time the Unit States budget was balance. Since the 1960s government cost overruns have been accepted by the general public and meet with little resistance due mostly with minor (on a government scale) changes in the national budget. This all change in the 1980s, when during the President Reagan’s tenure, the cost of running the government exceed all prior periods combine. An other significant occurrence in the 1984 elections, Ross Perot brought to the public attention how badly the government mismanaged its funds in detail. M. Gross stated (1992) “The debt is a double-barreled whammy. Not only does it keep the long bound up, but because the government is constantly borrowing new money, the annual interest carrying charges regularly rise as well. In 1993, with an expected $348 billion deficit, we will be paying $315 billion in interest just to carry the debt. The debt and deficit create a joint government, tax, states, money, middle, just, gross, class, billion, been, nation, fiscal, federal, economy, cost, 1993, social, security, public, out, national, funds, debt, budget, american, 1992, waste, united, time, taxes, taxation, state, started, shows, running, rate, president, now, monetary, mismanaged, make, last, interest, impact, going, go, general, exceed, entire, deficit