Well, here we go again. Every single time Republicans are in charge here in Washington, whether it’s the House or the Senate or the White House, we hear about the debt limit. All of a sudden, liberals are so concerned that there may be some cutbacks in government spending.
Here it is in the news again, on the headlines. The U.S. debt limit needing to be extended. How far extended? We’re $31 trillion in debt. It has been a habit of the U.S. government every other year warning of a catastrophic setback unless Congress increases how much debt the US can take on. It is really interesting, because we don’t seem to have to have this discussion until Republicans are in charge. And all of a sudden, it is the headline when this might not even take place for another six-eight months.
But we even have Biden’s Treasury Secretary Janet Yellen warning us. She’s saying now, failure to meet the government’s obligation would cause irreparable harm to the U.S. economy, the livelihood of all Americans, and global financial stability. Oh really? We know that it’s already unstable when you print money, Ms. Yellen. We understand that as a society, and that’s why a lot of people put Republicans in charge of the House so that they will get our house in order when it comes to our fiscal irresponsibility.
The left is always vocal about the need to increase our national debt. The minute the ink is dry, that Republicans are in charge of the house, all of a sudden, that’s all we hear about. Yes, they did say everything is on the table to pull our fiscal house in order. You know, it’s interesting, the left…they’re so concerned about spending money, but they remain silent on how we should actually fix the problem. It’s kind of like that teenage kid who’s been drinking and driving so the family finally takes the keys to the car. Now all of a sudden, he’s wondering, “how am I gonna get around?”
Well, one of the things that we should do is consider that we spend too much money in Washington, most totally unaccountable for. So meanwhile, the Republican House Majority Leader, yeah, he’s commenting on this. He said, If you’re going to ask for an increase in the limit, at some point in time, you got to sit down and say, why are we hitting the limit? Why are we maxing out the credit card? It’s interesting in your own household, you don’t max out your credit cards if you don’t have to, unless there’s some type of emergency, because you’re concerned about that debt.
The silence and irresponsibility of the left in this regard is just increasingly ridiculous. They just spend, spend, spend. What’s more, it strays beyond the reality of what hard-working Americans face in their own lives. In our own lives, we can’t just kick the can down the road on our personal debt. Well, we shouldn’t. We shouldn’t just keep spending and raising the limit on our credit cards once they’re all maxed out. At some point, no, you have to pay down. But too many Americans don’t believe that anymore.
In fact, in August 2021, about 64 million people with a credit record – that’s 28% of Americans – had debt in collections on their credit report. This is especially true for our young people, the newest generation entered into the workforce, has nearly one in five adults between the ages of 18 and 24 with a credit record in the U.S. had debt in collections. Well, they’re taking their cues from the government. Is it any wonder?
Maybe that’s why in a poll recently from the Peter G. Peterson Foundation, from last September, they noted a huge increase in concern about the national debt among those who are under the age of 35. Just spend, we’ll pay some time later. Who knows, maybe we’ll just print more money. 74% of Americans in total, as noted by that poll, believe our national debt should be a top priority. Of the top three priorities of Congress and the president, this is one of them. So there is some concern that people are saying $31 trillion, really. Who’s going to pay for that?
Yet, the left ignores the rules of fiscal responsibility. Meanwhile, they continue to plunder our national debt into an abyss, damaging our economy further and further and make it harder for actual workers, people that are playing by the rules, to get ahead. The tax rate is enormous and most people don’t know why. We will no doubt see the headlines again and again, needing to increase our national debt. The left controls the mainstream media, so therefore we’re already hearing about, “oh my goodness, they may cut back.” But you know what? Rewarding bad behavior reinforces bad habits. And that’s where we are as Americans. And that’s one of the reasons that the Republicans in charge of the House are saying, everything is on the table. Yes, defense. Yes, entitlements. Yes, welfare state. Yes, every part of spending irresponsibly, whether they’re entitlement programs, the frivolous spending, it’s all going to get worse for all Americans if we don’t pull our fiscal house in order.
So hard-working Americans make the necessary cuts in their own lives to sacrifices that are required by the worsening economy, a Biden economy of spend, spend, spend. Our tax dollars continue to be spent no differently than kids in a candy store, which is as much money as he thinks he has, because he has his parents’ credit card in his hand. Well, I’m agreeing with the GOP. Everything is on the table to bring our fiscal house in order. And every American, as painful as it may get over the short term, will be thankful in the long term because we will be able to recover our nation to prosperity again, because we have brought down our debt.