Letter: Who pays for the federal budget? You do.

Reality is that the U.S. government has only two sources of income to pay for spending: taxation and borrowing.

Deficit spending by the government means we spend more money than we receive, hence we are forced to borrow by selling government bonds that we must pay interest on. As the interest rate goes up, it costs more money to pay it off.

President Biden's 2022 budget is over $6 trillion. The deficit in 2021 was $2.7 trillion, the deficit for 2022 is going to be over $1 trillion.

That is $1 trillion we are going to tax and/or borrow for. These Democrats in the greater Chicago area voted for the spending: Sean Casten, Bill Foster, Raja Krishnamoorthi, Brad Schneider, Lauren Underwood, Jan Schakowsky, Mike Quigley and Sen. Tammy Duckworth, thus voting to increase your taxes.

Sean Casten says he ran a business. He should know that if you spend more than you bring in, you will eventually go broke.

The U.S. Government cannot manufacture money. It must tax or borrow to pay for spending.

Someone has to pay for government spending and benefits, and it is going to be you.

C.W. Hays

Lake Forest