(Joe Hoft) The Democrats are planning to pass $5.4 trillion in new spending this week and yet the debt ceiling is busted and inflation is sky-high.
Related Venezuela’s Central Bank Will Launch Digital Currency Oct. 1 to “Stabilize the Economy”
by Joe Hoft, August 22nd, 2021
This is only possible because Mitch McConnell and 16 treasonous GOP Senate Republicans voted for the Democrat infrastructure plan.
Thom Tillis writes at the Wall Street Journal:
Senate Democrats have passed a $3.5 trillion budget resolution, unlocking their ability to pass a tax-and-spend boondoggle later this fall. This comes on the heels of the $1.9 trillion package enacted along partisan lines and dubiously marketed as Covid-19 relief. Democrats didn’t care about the ramifications of their spending then, and most don’t seem to mind the $3.5 trillion price tag so long as it achieves the progressive policy objectives of their far-left base. But they insist on Republican support for raising the debt limit.
Congress’s previous two-year suspension of the limit expired at the end of July. Legislative action by this fall at the latest is needed to keep the federal government from defaulting on its debt before the Treasury’s “emergency measures” are exhausted.
Democrats could have included a solution to the debt limit in their budget resolution, which needs only a simple majority to pass. They refused, apparently for the purpose of creating a political crisis they can use as leverage over Republicans.
Treasury Secretary Janet Yellen recently said she views raising the debt limit as a “shared responsibility” between Republicans and Democrats. I would have agreed last year, when the parties worked together to confront an unprecedented crisis by passing five bipartisan Covid-19 relief packages that saved the economy from the brink and expedited the deployment of safe and effective vaccines.
But Democrats no longer recognize federal appropriations as a shared responsibility when they use the budget-reconciliation process to push for $5.4 trillion in new spending on partisan initiatives. The quest to spend money for the sake of spending money has already created a steady rise in inflation, with consumer prices up 5.4% last month.
Even far-left publications claim that the fact the debt ceiling is not addressed is not a good thing:
While the legal cap on how much the U.S. can borrow doesn’t impact what consumers can spend, if Congress can’t reach a deal on a new debt limit next month, it will wreak havoc on everything from credit cards to car loans.
“It’s a financial game of chicken,” said Mark Hamrick, senior economic analyst at Bankrate.com.
What a mess these politicians have got us in. They hate America and they will destroy this country and our way of life.
Fight viruses, remove heavy metals and microplastics, and restore your gut all at once with
Humic and Fulvic Acid from Ascent Nutrition.
MUST HAVE DETOX POWERHOUSE!
Save 10% and get free shipping with a subscription!
About The Author
Joe Hoft is the twin brother of TGP’s founder, Jim Hoft. His posts have been retweeted by President Trump and have made the headlines at the Drudge Report. Joe worked as a corporate executive in Hong Kong and traveled the world for his work, which gives him a unique perspective of US and global current events. He has ten degrees or designations and is the author of three books. His new book: ‘In God We Trust: Not in Lying Liberal Lunatics’ is out now – please take a look and buy a copy..
Stillness in the Storm Editor: Why did we post this?
The news is important to all people because it is where we come to know new things about the world, which leads to the development of more life goals that lead to life wisdom. The news also serves as a social connection tool, as we tend to relate to those who know about and believe the things we do. With the power of an open truth-seeking mind in hand, the individual can grow wise and the collective can prosper.
– Justin
Not sure how to make sense of this? Want to learn how to discern like a pro? Read this essential guide to discernment, analysis of claims, and understanding the truth in a world of deception: 4 Key Steps of Discernment – Advanced Truth-Seeking Tools.
Stillness in the Storm Editor’s note: Did you find a spelling error or grammatical mistake? Send an email to corrections@stillnessinthestorm.com, with the error and suggested correction, along with the headline and url. Do you think this article needs an update? Or do you just have some feedback? Send us an email at sitsshow@gmail.com. Thank you for reading.
Source:
DIRECT DONATION
Support our work! (Avoid Big Tech PayPal and Patreon)
Leave a Reply