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IPFS News Link • Government Debt & Financing

The Republican Debt-Circus Charade

•, by Jacob G. Hornberger

The mainstream press and other acolytes of the welfare-warfare state issued all sorts of dire predictions if the debt ceiling wasn't raised. As soon as the debt-ceiling was raised, no one advocated cutting government spending to prepare for the next time that the debt ceiling was reached. Everyone knew that as soon as the new debt ceiling was reached, they could do the same thing again.

In other words, for the past two years, it has been business as usual — federal government expenditures exceeding tax revenues by around $1 trillion per year. And everyone knew that within a couple of years, the debt ceiling would be reached again. 

Thus, just like clockwork, it's déjà vu all over again. In fact, the mainstream press doesn't even have to write new editorials or op-eds. All they have to do is trot out the ones from 2021 (and before) and use them. No one would be the wiser. Why write new ones when the old ones will work just as well?

But perhaps the most noteworthy thing to notice about the debt-ceiling circus is Republicans. Whenever there is a Republican president, Republicans stay silent about or, even worse, supportive of out-of-control spending and debt. President Trump, for example, added around $8 trillion to the national debt. You could call him the King of Debt. The Republican members of Congress were as quiet as church mice or, even worse, wildly supportive of their big-spender and big-debt leader. 

Anarchapulco 2023