Opening the flood gates of red ink
Rarely does the political class display its utter lack of restraint than when it comes to spending taxpayer money. This long-standing bipartisan recklessness has pushed the national debt to more than $22 trillion. But, it seems, all that red ink was of no matter to Congress, and regrettably, the White House, which is ready to add trillions more to the pile of debt:
The House on Thursday passed the $2.7 trillion spending framework, with many Republicans detesting an included $57 billion increase for nondefense programs over the next two fiscal years. The Senate is set to consider the bill on the floor this week.
Republicans hit their goal of increasing defense spending to $738 billion, $5 billion more in fiscal 2020 funding than House Democratic leaders had pushed for.
"The Democrats wanted to limit our policies on the border, they wanted to limit our policies regarding pro-life, they wanted to limit our policies regarding deregulation — and we won on every single one of those,” Mulvaney said.
As a presidential candidate in 2016, Trump said he was going to balance the budget, and Mulvaney, when he represented South Carolina in the House, was a “big budget hawk,” Fox host Chris Wallace pointed out. And if the budget deal goes through, the national debt could top $4 trillion, according to estimates.
This is disheartening on multiple levels. But is it a shock? The amounts of money and debt are staggering, for sure. But over the last several years, we've watched even the most vocal of self-described budget hawks turn out to be big spenders. Whatever fiscal restraint may have existed in DC is gone -- swallowed by expediency, politics, and self-preservation.
The bills for this short-term thinking, however, will come due. The future generations who will pay those bills will have every right to hold us in contempt for our profilgacy