Since 1960, the federal government has increased its tax revenue over the previous fiscal year 54 times. Only 7 times has the federal government’s tax revenue decreased over the previous fiscal year. In other words, nine times out of ten, the government gets a raise.
But since 1960, the federal government has spent more than it takes in ten times out of ten. For 61 consecutive years, the national debt has increased over the previous year. Nine times out of ten, the federal government confiscates more of our money each year through taxation, but ten times out of ten, they spend even more than they take.
This isn’t merely irresponsible; it is amoral, it is criminal, and it must stop.
Unfunded liabilities excluded, our current National Debt — the total accumulation of the federal government’s annual budget deficits — is 28 trillion dollars. The current debt ceiling — the maximum amount of debt the federal government allows itself to hold — is 28.5 trillion dollars.
Last Thursday 11 Republican senators, including Mitch McConnell, voted to suspend the debt ceiling until December 3rd, at which time Congress will have to vote again to raise or not to raise the debt ceiling. That means our national debt will soon exceed 28.5 trillion.
In the meantime, the Democratic Party and the media will predictably continue to scream, “The United States has never defaulted on its debt!” As ‘The Hill’ recently pointed out, this isn’t true, but nonetheless we’ll be told that if Congress doesn’t raise the debt ceiling the world will end.
But the Republican Party should finally do something towards the preservation of America and refuse to raise the debt ceiling. After all, the only thing they pretend to be for in the post-Trump era is fiscal responsibility. Prove it.
The fact of the matter is that we are being held hostage by our government. We are in a vicious cycle that must be broken. For 61 years the Federal Government has taken our money, spent more than they take, and then turned around and demanded that they be permitted to spend even more. I’ve had enough.
The private American citizen can’t max out their credit card and then unilaterally raise their own debt limit to permit himself or herself to spend more in perpetuity. More importantly, the consequences of personal debt — interest rates and limits, for example — force both the desperate and the reckless citizen, regardless of circumstance, to eventually live within his or her means and pay off his or her debt. Our government must be forced to behave the same.
The difference between you, me, and the government, of course, is that the government uses our credit card, has the ability to raise our card’s limit after they’ve maxed it out, and can then raise our taxes to continue their drunken spending spree. The other important distinction is that, unlike you and me, they face no consequences for their reckless spending. This must change.
The only deterrent to this abuse is to force the federal government to finally face the consequences of their 6-plus decades of reckless behavior. Each time we reach our new debt limit, Congress tells us that the American citizen will suffer if Congress doesn’t act to raise the debt ceiling. But it is Congress, which is responsible for the crisis in the first place. Furthermore, the Citizen will eventually suffer anyway as a result of the debt.
Rather than address the incomprehensible and increasingly insurmountable national debt, the Democratic Party now wants to spend another 5 trillion dollars on our already maxed out credit card, with their infrastructure and reconciliation bills.
Nancy Pelosi, Jen Psaki, and Treasury Secretary Janet Yellen assure us that this will be paid for. Even if I wanted to stoop to such moronic and unreasonable depths to entertain this idiocy, I would ask, “what about the pre-existing 28.5 trillion in debt?” How do we pay for that?
The Biden Administration claims they will pay for this new, additional spending by increasing taxes on those households earning more than four hundred thousand dollar per year. But households earning more than 400K a year represents only 1.5% of the population. Even if these Americans were taxed above 50%, the tax revenue wouldn’t cover this new spending.
The truth is, this won’t be paid for anymore than the already existing 28.5 trillion will be paid for. It’s a ruse. The problem in America is not that the rich don’t pay their fair share. The problem is that the Government spends too much. We don’t have a taxation problem in America, we have a federal spending problem in America.
If the Government is going to view us as their bank, we should treat them like a bank. Their card is maxed out. They must pay it down with what they already earn through taxation. If the government wants a credit increase or raise, they can earn more revenue by growing the private sector.
In 2018 the average wage for federal civilian workers was over $94,000. In 2018 the average wage for the 118 million private sector workers was just over $63,000. Yet the Government has the audacity to tell the American tax payer that they need more money. I don’t think so.
The solution is simple: the government must spend less, not tax more. Until then, no more debt increases. Pay off the 28.5 trillion and live within your means.
