in

AngryAngry OMGOMG WTFWTF CryCry LOLLOL LoveLove

When Can We Stop Funding This Crooked Law?

Stupid Dem ideas are pricey for Republicans!

In 1983, Tom Cruise starred in the film “Risky Business.” It’s about wealthy parents in Chicago who go on vacation and leave the house under the stewardship of their high school-age son.

In short order, the boy throws a wild party, and the rest of the film is about the chaotic fallout.

It’s the closest thing I can think of to capture current reality in Washington as the kids – the Democrats running the White House and Congress – throw their big party and breathlessly spend their parents’ money (in this case, our money), knowing that the party will be over when adults return.

The $3.5-plus trillion spending binge that Democrats are rushing to pass is not following a period of austerity. Record spending and debt have been piled on since the Obama years, using government to spend its way out of a government-induced economic collapse. And then we had the COVID-19 challenge and massive new government spending to get out of that.

Per the Cato Institute’s Chris Edwards, in 2001, the amount of federal debt per U.S. household was $30,684. By 2011, this was up to $84,470, and now it is at $179, 082. If the Democrats succeed with their $3.5 trillion binge, federal debt per U.S. household by 2031 will be up to $288,047.

Of course, this needs to be financed by taxes as well as borrowing, and the result will be higher taxes on corporations and on capital gains.

Perhaps you recall that the year after Donald Trump was elected president, a major tax bill was passed cutting corporate taxes, and the result was an economic surge from which all income classes in the country benefited. This will be reversed. Higher taxes mean slower growth.

It’s not like we’re looking at essential expenditures that must be made for our national well-being. Most of this spending is not about fixing roads and bridges and strengthening our military.

Most of it is to build the socialist paradise that Senate Budget Chairman Bernie Sanders and House Speaker Nancy Pelosi dream about: new household entitlements, new employer mandates, Medicare benefits expansion and all kinds of corporate welfare subsidies in the name of the Green New Deal and industrial policy spending.

But let’s get to perhaps the most fundamental point.

These are so-called political leaders that pretend to care about America’s poor.

The last thing that America’s poor need is a slowed-down, sluggish economy, larded down by massive new government.

Furthermore, our federal government sets a horrible example for financial management for all American households. You don’t take on new debts when you haven’t dealt with the debts that are currently on your doorstep.

On Aug. 31, the latest annual reports from the Social Security and Medicare Trustees landed on the desks of Pelosi and the president of the Senate, Vice President Kamala Harris.

These reports show both programs gushing red ink and hovering on bankruptcy.

By 2034, just 13 years from now, Social Security will have cash flow to meet just 78% of its obligations. Its overall projected shortfall over the next 75 years is $19.8 trillion.

The Medicare Hospital Insurance Trust Fund will be bankrupt by 2026. In 2020, of the $925.8 billion in Medicare spending, only $430.3 billion was paid for by payroll taxes and premiums. The rest was borrowed, amounting to almost 16 percent of the federal deficit.

But not a word about this while Democrats push for massive new spending and debt.

Not only not a word, but they want to layer on new entitlements to Medicare, already gushing red ink, that will cost, per The Wall Street Journal, another $360 billion over the next decade.

The good news is President Joe Biden’s approval rate is falling, meaning that adults are paying attention. Hopefully we can hold on until the adults return in 2022, before the kids destroy everything.

Sources: TownHall: Democrats Spend Big, and We Pay, for Their Socialist Dream

What do you think?

-3 points
Upvote Downvote

Written by Joshua Jackson

Comments

Leave a Reply
  1. Excellent article, and an interesting comparison to “Risky Business.” With all this happening, and we know about it, the fact is that the sitting president (small letter on purpose) is still sitting.
    The longer he sits, the worse everything will be.

  2. I have to ask why do you compare the debt per individual 2hen the average person it means nothing. Now if you make an example that if you wantef to purchase a home what 8s uhh ou debt to income? People might understand because a
    number of people want yo own a home. Now just maybe they understand that home will never happen if their debt was this high. Putting it simply, the Democrats are spend over and beyond the ability to ever own a home. Why? They are using your tax dollars up for future purchasing power. They are very stupid people with your money. You will never be able to buy a home!.

  3. Never mind impeaching JB just use the 25th & send a couple guys with a straight jacket 4 him.
    Then impeach Pelosi/Shummer. As 4 Cackling Kamy impeach her 4 being too stupid 2 hold office as well as dereliction of duty & deserting her post.

  4. Well, caring about the poor…it’s been well established that the Republicans don’t care about the poor. They are only worried about the VERY rich and big business. And needing a massive military…do we REALLY need to have enough weapons to blow up the world several times over? (Maybe your hero Donald Trump wants that…he was willing to nuke China to vent his frustration over losing the 2020 election…he’ll also need the weapons to vaporize Iran if they refuse to restore the Peacock Throne)
    I’ll go for extended Medicare, as well as better public transit and a well-funded Amtrak, for those who can’t fly or drive…or would you tell them “If you can’t drive or fly, too bad”? I’m rooting for America, not for the ultra rich

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Shocking Drone Footage From Texas Bridge

Will Texas Halt the Fetal Heartbeat Law?