Posted: Sep 15, 2021 12:01 AM
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In 1983, Tom Cruise starred in the film “Risky Business.” It’s about wealthy parents in Chicago who go on vacation and leave the house under the stewardship of their high school-age son.
In short order, the boy throws a wild party, and the rest of the film is about the chaotic fallout.
It’s the closest thing I can think of to capture current reality in Washington as the kids – the Democrats running the White House and Congress – throw their big party and breathlessly spend their parents’ money (in this case, our money), knowing that the party will be over when adults return.
The $3.5-plus trillion spending binge that Democrats are rushing to pass is not following a period of austerity. Record spending and debt have been piled on since the Obama years, using government to spend its way out of a government-induced economic collapse. And then we had the COVID-19 challenge and massive new government spending to get out of that.