Drowning in debt


In “Hamlet,” Shakespeare pens one of the crucial acquainted strains — and greatest recommendation — ever written. Earlier than Laertes leaves for Paris, his father, Polonius, tells him: “Neither a borrower nor a lender be…”

We now have ignored that recommendation for much too lengthy, which is why the U.S. nationwide debt is $20 trillion with extra to return, because of the Republican Congress, which has handed a two-yr spending invoice that requires $300 billion in new spending and removes caps utilized by the Price range Management Act of 2011.

It is being bought to the general public with the very best and purist motives. We have to help our “courageous” women and men in uniform and restore our roads and bridges.

As Politico first reported, an audit revealed a Protection Division company cannot account for $800 million focused for constructing tasks. Worse, if that is attainable, the Protection Logistics Company has no paper trial and may’t inform auditors the place the cash went. And Congress goes to provide them extra.

As for infrastructure, wasn’t the Obama “stimulus,” in any other case referred to as the American Restoration and Reinvestment Act of 2009, alleged to have fastened roads and bridges? It was extra like a down cost as a result of authorities by no means has sufficient of our cash.

Sen. Rand Paul (R-KY), spoke the reality when he held up passage of the finances invoice. As reported by The New York Occasions, Paul stated: “I would like individuals to really feel uncomfortable. I would like them to need to reply individuals at residence who stated, ‘How come you have been towards President Obama’s deficits after which how come you are for Republican deficits?'”

Paul was the one Republican senator to vote towards the measure which is predicted to extend the debt to $30 trillion over the subsequent decade, when in all probability all of these within the Senate might be lifeless or gone and will not should take duty for it.

Along with offering extra money for the army, some Republicans are claiming with a straight face that this large new spending is required to complete repeal of Obamacare. Nobody can critically consider that, particularly with all the further pork that’s undoubtedly added on to this invoice with a view to achieve “bipartisan” help. So if it is bipartisan, it have to be good, proper? Spending stands out as the final bipartisan act in Washington.

President Trump says if there have been extra Republicans in Congress the brand new spending and elevated debt wouldn’t have occurred. Perhaps.

It is useful to remind these free-spending Republicans what our Founders warned concerning the risks of debt.



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