On August 1, the debt limit will reset at its new level, likely north of $28 trillion, at which point the Treasury Department will use extraordinary measures to remain below the new limit.
Conservatives should demand more than the soft bigotry of low expectations that Republican lawmakers’ miserable track record on spending has led them to expect.
To say America appears headed for a destabilizing debt crisis is not the same as saying every cultural consequence will be negative. It could well lead to a mass religious revival.
With the federal debt at $21 trillion and rising, if Congress will not act on this package, when will it discover fiscal discipline?
If we ignore Congress, every autopilot spending program in existence, and trillions in Obama spending, then maybe we can blame debt solely on the GOP.
Parents and grandparents who otherwise work hard to help their kids have no compunction about burdening them with endless budget deficits resulting in a crushing national debt.
Of course, Mitch McConnell and Chuck Schumer want to ram the deal through Congress by Thursday evening—because we have to pass the bill to find out what’s in it.
Shortly before departing for their Christmas break, lawmakers of both parties voted to waive provisions that would have led to federal spending reductions over the coming decade.
To demonstrate that most Republicans have no desire to reduce federal spending, one need look no further than a Politico story last Thursday.
Neither party wants to reduce spending—a bad sign for future generations, who will pay the price for current leaders’ profligate ways.
If an outright repeal of the ‘Cadillac tax’ receives more than 60 votes in the Senate the legislation likely would increase the federal deficit in the long term.
If Trump wants to reduce the corporate income tax, he should cut at least some of the $147 billion the government spends on research grants.
Donald Trump is right that our debt problems could sink us. He’s wrong to then advocate more government spending.
Federal deficits have temporarily declined, so some in Congress want to party on by spending even more decades of future tax revenues.
Conservatives won’t know Obamacare is working if they only read right-leaning sites, says Ezra Klein. Au contraire.
Either the Federal Reserve keeps printing money to inflate away the U.S. government’s debt, or the Fed raises rates and the U.S. budget deficit skyrockets.
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