Say you're in a situation where you’ve spending more money than you're taking in - $4,000 this past year alone. You figure out a way to save $400. Would you then turn around, spend double that amount and go further in debt?
Probably not - unless, that is, you were a member of Congress running for re-election this year and you get to spend other people's money.
Add 8 zeros to the numbers in the example above, and you'll get an idea of the spending by Congress, who is spending other people’s money - our money.
The federal budget deficit will be in the range of $400 billion this year. That means roughly $1 in every $6 spent by the government will be borrowed money.
[Source of financial figures: Washington Post]