As long as I can remember, with the exception of the late 1990’s various politicians, economists and financial pundits have been predicting economic doom in the US due to irresponsible government spending. Sometimes it was valid, but most of the time it was not as the country has always been able to borrow and grow with the ballooning deficits. With the passage of the despicable omnibus budget last month totaling $1.7 trillion, however, I fear the US has finally crossed the Rubicon to eventual financial disaster. The country is already saddled with trillions of dollars of debt from the ruinous Covid lockdowns and bloated “emergency” spending programs that came at the end of the Trump presidency and Biden’s first two years. Piling on even more spending because “the country has a lot of problems” is the epitome of stupidity and recklessness. In addition, this egregious spending, supported by some 16 Republicans in senate by the way, will make the Fed’s job of tackling inflation much harder. Spend more money, get more inflation. One of two things must happen: either the Fed has to continue on its tight money policy to bring down inflation which will wreck economic growth, or it must monetize the debt by printing more money which will lead to high long-term inflation. But the clowns in DC don’t care. The pain will be felt by the poor and middle class. Congress and the entire Biden administration should be impeached and removed from office for its ruinous policies. This is the purposeful destruction of our economy, just as the Marxists planned.
One thought on “The Federal Government Is Leading Us Toward Economic Ruin”
There are currently 20 Congressmen trying to stop this behavior through the selection of the Speaker. I pray they are successful in negotiating that the next Speaker abide by their request to put the tools in place to stop future omnibus spending bills. The problem is that most of Congress is part of the Uniparty that sells us down the river.