I'm workin' 40 hours and more if I can get it
Still need an extra job so I can get more credit
Well, I work hard because we charge tomorrow yesterday
I'm in debt over my head the American Way

(Chorus)
It's already spent
Every dime I'll ever make
From the high cost of livin'
To what the government takes
Well, I don't have to worry
Or wonder where it went
I sleep like a baby
'Cause it's already spent
(End Chorus)

I hear 'em talkin' on TV 'bout where we should invest
Stocks and bonds and mutual funds and 401s and the rest
Well, my retirement plan's a coffee can and it's full of IOUs
My money goes to those I owe and I bet you yours does, too

(Repeat Chorus)

(Repeat Chorus)
We'll sleep just like babies
'Cause it's already spent