Is Washington Nuts? Increasing Spending AND Cutting Taxes Will EXPLODE The Size Of The National Debt
By Michael Snyder
TheEconomicCollapseBlog.com
February 7th, 2018
Our national debt is rapidly approaching 21 trillion dollars, and yet Congress wants to follow up a large tax cut bill with a massive increase in federal spending. This is absolute madness, and it is going to make our long-term financial problems as a nation far worse. After passing the tax bill, the appropriate thing to do would have been to cut federal spending. Yes, that would have not been a positive thing for the economy in the short-term, but we must start addressing our long-term priorities. If we do not do something about this exploding national debt, it could potentially destroy our republic all by itself.
Earlier today, I was absolutely horrified when I learned of a budget deal in the Senate that would increase federal spending by about 200 billion dollars in each of the next two years…
The Senate’s Republican and Democratic leaders unveiled a sweeping two-year budget agreement on Wednesday that would increase federal spending by hundreds of billions of dollars on domestic and defense programs alike.
That deal would eliminate strict budget caps, set in 2011 to reduce the federal deficit, and would allow Congress to spend about $200 billion more in the current fiscal year and in fiscal year 2019.
Seriously?
Our federal debt is going to hit 21 trillion dollars some time this year, and they want to throw hundreds of billions of dollars more spending on top of what we are already doing?
This alone is why we need true conservatives all over the nation to run for Congress. Our endless greed is literally destroying the bright future that our children and our grandchildren were supposed to have.
I don’t know if I even have the words to describe how foolish our leaders are being. If interest rates on government debt were to return to their long-term averages, the game would already be over. We should be desperately attempting to get our financial house in order, but instead we are spending money as if tomorrow will never come.
But tomorrow always arrives, and a day of reckoning is fast approaching.
Fortunately, there are some members of Congress that seem to understand that we cannot keep spending money that we do not have. The following comes from USA Today…
Rep. Mark Meadows, R-N.C., who chairs the hard-line House Freedom Caucus, wants to see what comes back from the Senate, said his spokesman Ben Williamson.
“But if the numbers are as high as we’re hearing, Rep. Meadows does not support the budget deal,” Williamson said.
Rep. Mo Brooks, R-Ala., said “this spending bill is a debt junkie’s dream… I’m not only a ‘no.’ I’m a ‘hell no.’”
The Rest…HERE
