So much for fiscal conservatism…
The Republicans are as much big spenders as the Democrats. History has shown this each time the GOP takes over the White House, House, and Senate. The spending doesn’t stop or slow down. It accelerates.
With the $1 trillion-plus spending fix Senate Majority Leader Mitch McConnell wants to impose for the remaining months of the fiscal year, Senator Rand Paul isn’t having any of it. In fact, he’s going after the Republicans like he did the Democrats.
“That’s why I gave them a piece of my mind the last time around. I’m upset that we’re spending like every Democrat that we criticized,” Paul said. “I ran for office because I thought the Obama spending and trillion dollar annual deficits were a real problem for our country and now Republicans are doing the same thing.
“So I’m giving them the same grief I gave Obama.”
Good man!
What’s worse is that lawmakers aren’t even reading the bills! They’re mortgaging the nation’s future but don’t even have the common courtesy to comb through 1,000 pages. Sickening!
So, just how bad are the books under President Donald Trump?
Well, $1 trillion of debt was added to the national debt in just six months!
From MarketWatch:
It has taken a little more than six months for the U.S. national debt to grow by a trillion dollars, a quick clip that has little precedent over the nation’s recent history.
Last week, the debt hit $21 trillion for the first time, rising from the $20 trillion mark it notched on Sept. 8. The debt is guaranteed to go higher, with President Donald Trump having signed a debt-limit suspension in February, allowing unlimited borrowing through March 1, 2019. Economists expect wider deficits to result from the tax cut Trump signed in December.
While a trillion-dollar increase over roughly six months isn’t unprecedented — there was one in 2009, during the Great Recession, and another in 2010 — it’s certainly fast.
The national debt exceeded $20 trillion in September 2017, after taking 20 months to add a trillion dollars. A debt limit that had been in place since March 2015 was raised in March 2017, and again on Sept. 8, 2017.
Farther back, however, such trillion-dollar increases took longer: 43 months, for instance, near the end of Bill Clinton’s first term.
The first time the nation’s debt hit $1 trillion was in October 1981, during Ronald Reagan’s first term.
Looking ahead, analysts see the nation much deeper in debt. The Committee for a Responsible Budget projects trillion-dollar deficits returning permanently by next year, and debt exceeding the size of the economy within a decade.
Of course, the media can’t really complain. They celebrated former President Barack Obama’s spending ways. Any time you criticized the budget deficits and rising debt levels, you were called a racist.
Should we have expected anything different? Let’s be honest: President Trump never really campaigned hard on cutting spending or balancing the books. This was expected.
With interest rates going up, it is going to become even more difficult for the U.S. to service the debt.
Is this Making America Great Again?
Been yelling this from the roof tops to anyone that will listen. Just The Facts has a great article on this. Misinformation and outright lies. I feel we are very close to ending this. Cancer or heart attack the results are the same. This is the issue and all others are a symptom.