$3.5 trillion in new spending … but

where is the money to pay for what we already have?

Senate Democrats reached agreement to pursue a $3.5 trillion reconciliation package to expand Medicare benefits, boost federal safety net programs and combat climate change.

Expand Medicare? We haven’t even fixed the current funding shortfall yet!

The wide array of planned health, education and social programs if adopted would represent a historic burst of federal spending.

Amazing

They plan to pay for much of their package using tax increases on wealthy Americans and corporations.

Wealthy Americans only and corporations? No adverse consequences possible?

Who will pay to keep Social Security solvent? That was supposed to be the wealthy too.

These proposals are ongoing, long-term commitments that cannot possibly be sustained taxing only a small percentage of Americans while dealing with existing funding shortfalls and growing deficits.

Fiscal responsibility are dirty words.

“Policies should be paid for over the traditional ten-year budget window, rather than enacting spending now and promising pay-fors later.

Smart investments will have a positive effect on economic growth, but they should not be exaggerated, and any dynamic revenue gains should go toward addressing our high and rising national debt.

Finally, legislators must commit to enacting these new policies responsibly by setting reconciliation instructions that add to $0 or else reduce deficits on net.

Politicians should not be making up their own estimates, choosing their own scorekeeper, incorporating fantasy growth assumptions, or relying on future promises to pay for their spending today.

Source: Committee for a Responsible Federal Budget

2 comments

  1. I do believe it is just one more step in a socialist take over of our great country. Besides all the censorship (and as of this week, the democrats want to read your text messages), suspension of your rights during the pandemic, attempts to disarm America, the race war for the past 13 years, I think that government debt and the resulting implosion of debt will result in a total socialist nation. The people will be totally dependent on government handouts and they will not be as generous either. We will have soup lines like in the early days of communist Russia and China and like they have in Venezuela today.

    We have just seen a test run last year of how to control the population by giving them handouts that we can’t pay for either. The government is still giving checks out to people who could be working. The government is also giving money for children with families making $150k.

    If you or I were in more debt than we could possible earn in our remaining lifetime, no bank would loan us another $5. But our government thinks that it is okay to borrow another $3.5 Trillion dollars when that is the total amount that the government collects in taxes now which can’t pay for what they are currently spending. $3.5T is another 12.2% added to the national debt of $28.5 trillion. (see national Debt Clock)

    I used to think I wasn’t going to be alive to see the fall of USA, but now I think I might be one of those people in a nursing home that government kills off to reduce the burden when it happens. At first I thought I was paranoid, but the pandemic has brought out what the colleges and now public schools are teaching. Our children are being taught to hate America, each other, and everything should be free.

    One final thought. When all these wealthy people are bled dry of their money, then who is going to pay the taxes that are going to fund the debt?

    Like

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