Speaker McCarthy has sold out America to the Democrat agenda.
He made one deal with Democrats to appease Joe Biden.
And now America is hurtling towards bankruptcy thanks to his irresponsible actions.
The U.S. national debt is in an out-of-control spiral. Multiple presidents in a row have spent money with no regard to the future economic security of our country.
You see, when the federal government spends money that it doesn’t have, it comes at a cost.
It may not seem like it at the time that the money is spent. People are happy to take their free money from the government, and it may even temporarily boost the economy.
But the debts incurred from this spending have to be paid off, so the government simply prints off money, which inflates the currency and wrecks the economy.
Now that Republicans control the House of Representatives, one would think that they would be interested in reining in this spending and doing something about the national debt.
But Kevin McCarthy just did the opposite – he made a deal with the Democrats to keep the gravy train coming with no concern for the future well-being of the United States’ economy.
According to Breitbart, “Formally known as the Fiscal Responsibility Act of 2023, the bill provides for an increase to the debt ceiling of $31.4 trillion for two years, meaning Biden will crucially not need to negotiate it again before the November 2024 presidential election.
“The deal holds nonmilitary spending roughly flat for the 2024 fiscal year from this year. It also limits the increase by one percent for 2025, according to the proposed bill.
“The agreement preserves plans by the Biden administration to increase spending for the military and veterans in line with inflation as well.”
In other words, spending will not be cut at all, and the national debt will continue to grow. Regardless of what little details in the bill McCarthy tries to sell as a “win,” the fact is that the United States will continue to spiral further and further into bankruptcy.
And make no mistake, things are getting worse.
The New York Post, in their report about the debt ceiling deal, reveals this ugly fact: “The current debt limit – $31.4 trillion – was reached back in January. Since then, the Treasury Department has kept within the limit by suspending investments in some federal pension funds while continuing to borrow from investors.”
The harm that this is doing to the American economy is incalculable. And yet no president so far has had the courage to do anything about it.
Joe Biden is far more concerned with spreading his woke agenda and giving out government handouts than he is with making the U.S. economy sustainable for the long-term.
Unfortunately, it seems that Speaker McCarthy has decided to work with Biden on this instead of pushing back against his tax-and-spend agenda.
And the U.S. economy will continue to suffer as our country’s political leaders do nothing to get reckless federal spending under control.