We have to stop the spending!
This week President Joe Biden is getting together with congressional leaders about negotiating on raising the debt ceiling. Already, Biden has said he is not going to compromise. He just wants the ceiling raised so he can continue to spend, spend, spend.
While our nation cannot go cold turkey on failing to raise the debt ceiling, we do need to significantly curb government spending. Our nation is $31 trillion in debt. To pay it off, each taxpayer would have to send in $247,000 to the federal government. That's right; we each owe almost a quarter of a million dollars to the federal government to pay down the debt. But, we owe even more, because our states, our municipalities and our counties also have debt. We have to stop the spending.
The interest on our national debt is $565 billion! That's $565 billion not going for national security, roads or anything else useful. It also means that the majority of the funds we send to the federal government go to paying the interest on the debt. In other words, we have maxed out the country's credit cards, and we are only paying the interest payment each month. We are in the hole, and it is going to be a tough climb out.
We need to stop the spending.
We don't want to end up like Greece. When Greece went bankrupt, it forced sudden reforms that led to impoverishment, loss of income, a humanitarian crisis and the longest economic recession. To fix the financial mess, the Greek government was forced to increase taxes 12 times and make drastic cuts to spending.
What do you think will be on the chopping block if our nation faces bankruptcy? The three biggest budget items are Medicare, Social Security and defense. You can wave bye-bye to Social Security if the U.S.A. doesn't resolve this debt crisis. For federal retirees, your pension will be no longer.
This week Speaker McCarthy needs to push for major discretionary spending cuts. He should use Citizens Against Government Waste's PIG book as his guide. We need to cut grants, especially ones that go to progressive organizations that push the woke agenda. Of course, cutting foreign aid is a must!
Now is the time to stop the spending. We should all be praying that Speaker McCarthy can mentally reach the incompetent president who doesn't care one bit about the future of this nation. That's a big prayer, but our country's future is at stake!
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
READ NEXT: Police Catch Mass Stabbing Suspect, Find Out He's An Illegal Immigrant
If Congress raises the debt ceiling again it will prove what I have been claiming for over a decade: we do not have a debt ceiling – it does not exist!
Also, our national debt places our future generations in slavery to the government since they are born into a level of debt they will pay on all their lives and never pay off.
Future generations will curse us for spending their money without permission. In other words, we are inflicting taxation without representation on millions of people yet unborn.
Conservatives, such as Sen. Rand Paul, have offered a plan which would at least balance the budget over 5 to 10 years as a start. Yet that wise and simple plan was rejected.
Until Congress balances the budget they should not receive any further salary or benefits. And, further, if Congress does not balance the budget within 10 years they should all be fired and charged with fraud resulting in jail time without bail.
The only remotely valid reason for a debt ceiling is to FORCE Congress to at least pretend to look at spending when it is reached. If the pass a “clean” increase in the limit, as the Democrats insist, they are irrefutably proving the “limit” is a lie.
I agree with you that it has been a lie all along.
Biden is insisting that we continue Covid-level spending and refuses to even discuss rolling back spending to the already agreed-upon budget. Plus, he’s acting like a spoiled child who thinks he should get everything he wants, just because he wants it. His obscene comments about Republicans reveal his resentment of Republicans’ power of the purse.
Republicans are willing to compromise with Biden, but Biden refuses to compromise in return. If anyone is “holding the government hostage,” it’s Biden.
The Republican Party could be and should be the cure to rampant domestic spending. We’ll see if its members have the backbone to do what’s right.
Biden is in the throes of cognizant failure therefore he is not able to discern any financial business. The world knows he is not fit for leading and has destroyed America. Yet – we let him make fools of our elected folks who supposed to know how to govern.
Biden’s comprehension is kaput!
CUT Waste, Debt, sunset programs, agencies alone
Go Flat Tax
Scrap IRS NPR PBS EPA Dept Energy, Education, any interagency