Checks and Balances TV - Where is Our President Spending Our Money? | HD

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Title: Checks and Balances TV - Where is Our President Spending Our Money? | HD

Added: Feb 17, 2011

Duration: 17:23

Description:
http://checksandbalances.tv - The federal debt reached $14 trillion last month, and that number is only expected to rise. With each day the debt is getting closer and closer to reaching the Federal debt ceiling, or the maximum amount of money the government is allowed to spend. With the federal debt at record-high levels, and the debt ceiling quickly approaching, the government will not be able to sustain the excessive spending of the past several years for much longer. The Congressional Budget Office, CBO, released its projections for this year's anticipated federal deficit. The deficit is the amount of money we need to borrow to fund the government's liabilities in their entirety. It is the difference between tax revenue collected and money spent on government programs, which is in turn added to the total federal debt. The deficit is expected to rise to $1.5 trillion this year, an increase from the $1.3 trillion we added to the federal debt last year. Watch this week's CBTV show to find out what the skyrocketing federal debt and deficit mean to you, and learn how you can work to protect yourself from the government's spending spree!The economy continues to appear to be taking one step back, instead of two steps forward. On the heels of this extension, the President and Congress have also announced that they are going to make job creation int his country and improving the economy one of their top priorities this year. The current rate of job creation in this country is not enough to even lower the current unemployment rate, since about 200,000 new jobs are needed per month for that to happen. In fact, we're really only creating enough jobs to just keep pace with new entrants to the work force. No wonder the unemployment rate is still so high!Tune into this week's CBTV show to find out what's really going on with the unemployment rate and what the new Congress has in store for you.