In his first real test as Speaker of the House, Mike Johnson resorted to the old tactics of kicking the can down the road to address our country's looming debt problem. Last night, his Continuing Resolution (CR) garnered support from nearly all Democrats and a slim majority of Republicans.
Think for a second - what kind of conservative leadership gains support of the radicalized Congressional Democrats??? It's very obvious that Johnson's Continuing Resolution does nothing to limit the size and scope of the behemoth federal government.
What H.R. 6363 does do is fund the bloated federal government at the same unsustainable levels until early next year. The I.R.S. is still fully funded. Planned Parenthood continues getting our tax money. And every other objectionable, fraudulent or unconstitutional program is still getting federal funding.
We're currently running a whopping $1.7 Trillion budget deficit, which is being financed by more money printing. This is a HUGE PROBLEM! Here's why...
Congress' reckless spending is having a devastating affect on American families. The rising prices of consumer goods is a direct result of the federal government adding trillions upon trillions of dollars in new debt in the last three years. The Federal Reserve has purchased that debt with newly printed money, which causes inflation and is an indirect tax on you and me.
We knew this money printing operation was going to lead to higher prices and wrote about it on March 18th, 2020.
Failing to balance a budget and running massive budget deficits have REAL consequences for American households. Democrats do not care at all about this problem, even though this policy most adversely impacts the poor and elderly. The latter are on fixed income and can't keep up with inflation.
This problem isn't just some manufactured right wing conspiracy, as the elitists will have you believe. Moody's just downgraded the credit rating of the United States from "stable" to "negative!"
Johnson's CR had 93 Republicans voting against it. Some of the most vocal conservative members of the Freedom Caucus criticized the bill because it contained "no spending reductions, no border security, and not a single meaningful win for the American people."
There is a solution, but the attitudes in Washington D.C. MUST CHANGE rapidly. Our federal government has to be cut, and not by a little, but by a lot. Balancing the budget would stop the future debt load that is costing us nearly a trillion dollars a year to finance. That's bigger than our entire military spending! The reduction of government would likely unleash huge economic growth and lead to higher revenues that would help pay down the debt with budget surpluses.
If we don't fix this issue now, we're heading for a situation where the financing of our debt will lead to either a default or an unsustainable money printing operation that will lead to hyperinflation. Neither option is good.
It's time to put America First!