Spendthrift Congress

The fiscal year ended just a few short weeks ago with $3.45 trillion being dolled out by the federal government, second only to last year's record $3.52 trillion in spending - the highest in the history of our nation.

The Wall Street Journal pointed out in an article this week "By far the biggest percentage-gain revenue winner for the taxpayer in 2010 was . . . the Federal Reserve. Thanks to the expansion of its balance sheet with riskier assets, the Fed earned $76 billion during the year, a 121% increase. The Fed's windfall is a perfect symbol of our current economic policy. The government is making money because it now controls so much capital, but it is robbing that money from the private economy in the process. It is never a good sign when your central bank is a national profit center."

They are absolutely correct. A 21.4% federal spending increase over two years is unacceptable, especially when the current majority in Congress has continued to throw away taxpayer dollars with record spending being the only achievement to show for it.