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Congress simply handed – and President Biden simply signed – the newest short-term authorities funding invoice to maintain the federal government operating.
The invoice, which basically kicks the can down the street, ensures that taxpayers will proceed to pay for a bloated authorities till January, Senate Appropriations Committee Chair Patty Murray (D-WA) stated: “…avoiding a (authorities) shutdown is so very removed from mission completed. We now have a variety of work to do after the mud settles and earlier than the following shutdown deadline comes up.”
Up to now, this pretend state of affairs of a authorities shutdown has meant preserving all present spending whereas including new debt. It’s uncertain this time round might be a lot totally different.
As a result of this “work” is unlikely to incorporate reforming Social Safety and Medicare – the most important driver of debt – fiscally conservative Republicans ought to concentrate on different spending to disgrace the profligate spenders (which sadly embody too many Republicans) and inform voters that their tax {dollars} and borrowed cash are being wasted.
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Thomas A. Schatz, president of Residents In opposition to Authorities Waste, has provide you with a listing of proposed cuts that ought to function a place to begin.
How about chopping or eliminating $196 million for the Worldwide Fund for Eire? The cash went for initiatives that embody pony trekking facilities and golf movies.
Talking of golf, the Pentagon introduced final yr it might spend $5.1 million to construct a brand new golf course at Joint Base Andrews when there are already 19 navy golf programs within the Washington space.
One pointless expense was reduce. That was $440,000 for attendants to push buttons on automated elevators within the Capitol Hill complicated.
The Nationwide Endowment for the Humanities misspent $4.2 million to conduct a “Nationwide Dialog on Pluralism and Identification.” Nobody conversed with me on the subject. You?
The Pentagon and CIA employed psychics, hoping they would offer particular insights about varied international threats. I had a premonition about that. Value: $11 million.
A private favourite was a research to find out the standard of life in Hawaii. That value us $187,042.
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Then there was the $40 million in phony meals stamp claims. 5 Floridians stole $20 million from Medicare, a part of the estimated $17 billion in annual Medicare fraud. Too many Members of Congress do not appear to care as a result of it isn’t their cash they’re spending.
If Republicans would begin at these extremes which, taken in complete quantity to comparatively small quantities of cash in opposition to the debt, they is perhaps higher positioned to trim the spending behemoths which might be Social Safety and Medicare. They could additionally encourage folks to have a look at the U.S. Debt Clock.
Morgan Stanley, the monetary advisory agency, summarized the debt menace we face in a latest posting on its web site: ” The present federal debt pile is already huge, at greater than $33 trillion, a staggering post-WWII excessive representing 122% of gross home product (GDP). A latest Treasury report confirmed the federal government spent $659 billion in internet curiosity funds through the fiscal yr that resulted in September — about 39% greater than the identical interval within the earlier yr. The Congressional Funds Workplace estimates this curiosity expense may double within the subsequent decade, which means that the U.S. authorities is perhaps spending extra on curiosity funds than on different main price range classes comparable to protection. Rising nationwide debt cannot solely elevate borrowing prices for everybody, it may additionally crowd out funding for different priorities.”
Debt has been a significant contributor to the decline and in some instances collapse of countries prior to now. What makes our nation assume we are able to ignore primary financial guidelines and never undergo related penalties?
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