5/24/16 One Trillion Dollars
Last year, GOP Congressional leaders and the President worked closely to pass a budget that would finally slow government spending.
Here’s what’s happening behind the headlines.
It’s six months into the new budget deal and where do we stand?
The national debt was 18.1 trillion dollars when the spending plan was passed on October 30th. At the end of last month it was nearly 19.2 trillion. The debt grew by more than one trillion dollars in just six months! And there’s no end in sight to the growing mountain of debt.
Furthermore, there are no mechanisms in place to restrain spending. The bipartisan bill cleverly suspended the national debt ceiling until next spring. Long after the 2016 election. And long after the next president — whether Republican or Democrat — is sworn into office.
Sending men and women into war may carry the most responsibility for Congress and the president. But spending other people’s money is the most powerful thing they do.
Republicans and Democrats may be political opponents on many issues. But they are the closest of business partners when it comes to spending our nation into bankruptcy.
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