More or Less
Everywhere one looks these days it appears services and products cost more but deliver less than they once did. That seems especially true when it comes to the federal government.
President Biden wants to raise taxes again. Unlikely, given the Republican House majority, but this Tax Day offers us our annual opportunity to explore what we are getting in exchange for what we’re paying Washington. Out-of-control spending, not lack of revenue, is responsible for our crushing national debt.
The Committee for a Responsible Federal Budget (CRFB) – the name reflects a pipe dream if ever there was one – has issued the following statement: “The Treasury Department’s latest numbers show that we’ve borrowed more than a trillion dollars so far this fiscal year and we’re only halfway through. But despite the need for a comprehensive plan to address our runaway borrowing, in Washington, all we’re hearing from our elected officials is crickets.”
One reason is that too many Americans are hooked on “benefits” and “entitlements” and can’t imagine living without them, so they mostly vote for those who will keep the goodies flowing.
The CRFB statement continued: “We’re nearly at the point where our debt will be larger than the economy itself and