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Congress Has No ‘Appetite’ for Spending Cuts, While America Starves for Fiscal Sanity

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Unread 02.22.19, 04:51 PM
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Congress Has No ‘Appetite’ for Spending Cuts, While America Starves for Fiscal Sanity

02.21.19 02:16 PM

The*National Debt Clock*is* ticking up at an alarming rate.* Frankly, we’re afraid it may run out of numbers. We’re more than $22 trillion in debt, having spent $4 trillion last year alone. Deficits are on the verge of going back up to $1 trillion each year. We’re heading for a financial catastrophe. So of course*our elected officials are going to act now and start spending responsibly — right? Nope. “I don’t see at this point a lot of appetite for cutting spending,”*said*House Budget Committee Chairman John Yarmuth*(D-KY). Unfortunately, if there’s one thing that seems to bring both political parties together in Washington, it’s the unwillingness to exercise an ounce of fiscal restraint. This is especially true for the largest*“mandatory”*spending programs that make up some 85 percent of total new debt. If*the Congressional Budget Office’s*annual budget forecast*is any indication (spoiler alert:*it*is),*the*fiscal outlook for the next decade is beyond grim. Spending is forecast to grow to $7 trillion and the debt to grow to $31 trillion. Washington may not have the appetite for a change, but those numbers should be a wake up call to everyone that we need to start tightening the belt — before it’s too late. And reining in […]

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