Fiscal Blackmail

Posted on Posted in Reflections

The $1.3 trillion-dollar spending bill developed by Congress and signed by the President is a joke!

With little involvement of Congress, we saw the “leaders” of the House and Senate throwing together a 2,232-page spending bill that had to be delivered to the White House in a wheel barrow. And then they had to temerity to demand the President sign it to “avoid a government shut down.”

All parties agreed that no one has had time to read the bill or even begin to understand what is in it. What we can be sure of is that it is so full of “pork” that it oinks. For example, Sen. Chuck Schumer of New York has billions for his tunnel in New York. And, there’s billions more for the military. Let’s at least hope they spend it wisely.

The Debt

The overall federal debt now exceeds $21 trillion and is projected to grow by trillions more as far as the eye can see. Have we become so used to the magnitude of the problem that we no longer care? If so, what a tragedy!

The attitude in Washington seems to be, “spend today and let the next generation of “leaders” and taxpayers deal with the problem.”

Interest on the Debt

We spend quarter-trillion dollars per year on interest payments for the national debt. Fortunately, we’ve had relatively low interest rates in recent years.  When that changes, every one-point increase in interest rates will add $200 billion per year to our borrowing costs. We stand on the precipice of a fiscal disaster!

The President

The President was angry when he received the spending bill. “No more last-minute bills,” he roared.

I predict that this flawed budgeting process will not end unless, or until the President refuses to sign these bills and shuts the government down. Then you might get Congress’ attention. They don’t know how to function in an orderly manner. With a stroke of his veto pen, the President might finally get them to understand, “no more flawed bills.”

Congress

Congress is dysfunctional! I don’t care if they’re Republicans or Democrats. The only fiscal difference is the Republicans spend slightly less.

The main job of Congress is to develop a budget. Yet, every time we turn around they are headed out of town on another break. We need to write our Senators and Members of Congress and tell them to

GET TO WORK!

Spend less time in front of the cameras. Stop your useless “hearings.”

Solve our fiscal problems. They won’t go away with your lack of leadership!

I know many don’t like the President but let him do his job. Approve his appointments so he can govern.

The Senate has become the body of “no.” McConnell needs to lead, and the Democrats need to start doing what’s right for America.

Summary

The “process” we witnessed on the $1.3 trillion spending bill must stop. We are tired of the last-minute drama of bloated spending.

Congress must adopt an orderly process of developing spending bills that people have time to read, understand and support.

Congress must understand, if they don’t want to do their jobs, we will find LEADERS that will!