The federal government consumes nearly 25 percent of all goods and services produced each year by the American people.10 Yearly deficits routinely exceed $1 trillion.11 The federal government has incurred a fiscal operating debt of more than $17 trillion, far exceeding the total value of the annual economic wealth created by the American people, which is expected to reach about $26 trillion in a decade.12 It has accumulated unfunded liabilities for entitlement programs exceeding $90 trillion, which is growing at $4.6–6.9 trillion a year.
