(CNN) – For the federal government, this has been the year of spending dangerously.
The danger lies not just in the staggering volume of money being thrown around by the administration and Democrat-controlled Congress. It lies as well in their choices about how that money is being used and their apparent lack of concern that their spending splurge is unsustainable.
Just this past fiscal year alone, which ended in October, the federal government has racked up a staggering deficit of $1.4 trillion, tripling the previous record. And it has done so in part through moves like buying an ownership stake in hundreds of banks, an insurance company, two automakers and numerous other businesses.
A little over a year ago, Congress created the Troubled Asset Relief Program to try to stabilize plummeting financial markets
Sen. Thune talks to CNN Radio’s Bob Costantini: