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Balance The Budget

Like many Americans, I am simply sick and tired of the bickering and fighting that is going back and forth between Congress and the President. If I could wave a wand and get one compromise between the President and the new Congress it would be to simply balance the budget here in America. As a personal finance person, it’s abundantly clear that no individual, family, or business can continue to accrue debt in perpetuity. Eventually, debt chews you up, drags you down, and paralyzes you from moving forward. This is exactly what debt is doing to this country.

If you get the chance over the next week and have never gone to the website www.usdebtclock.org, I recommend that you take the opportunity to spend five or ten minutes on the site. As I drafted this article, I noticed that national debt according to the site has now crossed over $18 trillion dollars in debt. The way you build up debt is really pretty simple for most organizations or families. You spend more than you make. We are pacing to be almost $500 billion dollars behind in the federal budget this year. All we would have to do to solve this debt is have each US taxpayer stroke a check for $153,729. LOL! Happy Holidays!

Having the President and the new Congress come to a compromise on a balanced budget would be extremely beneficially for Americans. First, it sets the right example. Is there a reason why people think it is acceptable in the United States to file bankruptcy, walk away from debt, and file bankruptcy in a commonplace way? Second, it means that new Congress and the President would have to compromise on priorities. When you spend more than you make you will have to cut expenses somewhere. We can’t fix our debt problem by increasing revenue. Last, we can help preserve a better future for ourselves and our children. No family left behind with a ton of debt will ever be better off in the future.

Written by: Ted Jenkin
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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

Read More About Ted Here

Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

Background and qualification information is available at FINRA's BrokerCheck website.

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