With the impressive rebound of the United States economy since last April, continued DEBT (deficit) financing our elected ‘representatives’ is atrocious, detrimental, and entirely unnecessary. It hinders economic prosperity and freedom for every American. The spending being done by is akin to a family of four making $100,000 a year—taking out a loan, every year, for 300% of what they earned.
Some day, the piper must be paid. Bankers aren’t nice people. Especially central bankers.
As we all know, our unparalleled rebound began right after it was, originally, “15 days to stop the spread.” Our federal government and Congress have passed massive spending bills on the trillions since—without the proper revenue from taxation. Nor the profit from its budget. How many businesses succeed after more than fifty years of spending 100%+ of its budget? 98.6% of businesses fail in two years. Bankruptcy is the way out.
These bills, since after the 2020 election, have been majority special interest filled. Over 90% of the spending mandated in those bills, like the “American Recuse Plan,” are exactly like Social Security, Medicare, and Medicaid. Because the government spending and federal reserve printing is now mandated it takes our large majority of spineless politicians to reverse the spending.
This is no stab at either side of the aisle. It’s a stab at both. Like the late Senator Tom Coburn stated in his many books, especially The Debt Bomb, Washington changes people—and the majority, not for the better.
The most recent information from the Institute for Supply Chain Management shows American service industry has grown to an ALL time high—63.7. That’s higher than pre-pandemic levels. Courtesy of Operation Warp Speed. It represents unparalleled growth and American confidence in our future.
This is on top of the first quarter’s wonderful report from the Bureau of Labor Statistics, showing that the net total jobs gained were 1.07 million. The highest and most prolific gains have been in low-income and minority families. Spending by our government financed by deficit will only hurt these Americans and their families in the long run. Economics suggests 6-9 months, then the damage hits—like Mike Trout in the bottom of the ninth down by three.
Other economic indicators provided by the Federal Reserve Bank of St Louis (DuckDuckGo “FRED Economics) indicate a robust recovery from our recessions. This, of course, is only if our elected representatives do not put special interest spending first. That is, put Americans first—and do not be dumb.
With such glowing lights from the shining city upon a hill’s economy, the Federal Reserve should highly consider raising interest rates well before its planned December 2023. Two more full years of inflation will only erode the value of the dollar.
Anyone remember the 1970s?
