The United States Congress and the Biden administration are entering dangerous spending territory. Budget hawks and conservatives became seriously anxious – perhaps a bit ill – when they saw the price tag for all the irresponsible spending last year at a record $6.5 trillion, yet the prospective budget numbers we are seeing today from Washington will make the government spending of the past two administrations look like chump-change. President Biden recently rolled out this $6 trillion budget proposal that will transform the United States into something that looks more like France than Texas – a new-age Democratic Socialist movement with massive government interference in myriad local and state jurisdictions.
The Biden spending binge is a walk on the wild side in terms of breaking norms and constraints on government (over)reach. The New York Times offered up some old-school arithmetic for the three big-ticket Biden schemes – the Biden-friendly NYT revealed an astonishing $6 trillion tab. Add together this spending extravaganza to the current level of government expenditures, and the American people will be confronted with unprecedented debt and economic instability for years. Profligate spending combined with Washington in your personal affairs like never experienced in our history. Even Biden’s own Treasury Secretary, Janet Yellen, predicts debt levels to exceed the output of the whole U.S. economy.
The first Biden spending plan, and the only one currently signed into law, is the “American Rescue Plan” that scores at about $1.9 trillion. The New York Times reports that the bill included, “a one-time direct payment of up to $1,400 for hundreds-of-millions of Americans, along with a $300 weekly federal supplement to unemployment benefits through the summer, and money for distributing vaccines” and “$350 billion in emergency funding for localities — $195 billion for states, $130 billion for local governments, $20 billion for tribal governments and $4.5 billion for territories.” This plan was rammed through Congress on a party line vote using special Reconciliation procedures that allowed the Democrats to pass whatever the Democratic Party wanted. And it was only the first budgetary assault – the Democrats weren’t done by a long shot.
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