Last month the U.S. government spent $84 billion it did not have, continuing a period of deficit spending that encompasses all of President Barack Obama's administration.
That works out to about $268 for every man, woman and child in the United States, or more than $1,000 for a family of four, during just a single month.
And there is no end in sight. Even the most optimistic predictions for reducing federal spending call for deficits stretching long into the future.
Many of us overspend during the Christmas season. But the government's binge continues throughout the year. Clearly, it needs to be brought to an end.