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Happy New Year everyone!
I hope you had a great New Year’s party, whether you were out on the town or drinking champagne at home with your loved ones. This may be the last party you have some time to spare.
The party is over for this week.
We have lived in debt for too long. No, we will not face the financial crisis of 2009. Banks and financial institutions are in much better shape than they were then. But the government is not.
If You Have ‘Big Dreams’, 2023 Can Be The Year You’ve Always Wanted
Our national debt is enormous, reaching $31 trillion and now exceeding our annual GDP. We laughed at a country in its shackles.
Of course, there’s a reason this happened. The extraordinary moment that brought the economy to a halt due to the pandemic created a unique crisis that forced us to spend so much. However, it was expected to be a temporary safety net for individuals and businesses.
Instead, the Biden administration has doubled down on spending to expand government in unsustainable ways far beyond what the private economy can sustain. This leads to high inflation and rising interest rates, both of which are causing great distress to families and businesses.
President Joe Biden walks to speak to reporters as he leaves the White House with First Lady Jill Biden on December 27, 2022.
(Anna Moneymaker)
And it looks like 2023 will throw an official recession into the dire index mix. Especially since irresponsible representatives have put another $1.7 trillion into the fire.
It’s 2023. Remember that God always gives you the opportunity to make a fresh start.
A huge total spending bill will likely force the Fed to keep rates high. This means a tougher recession than we had hoped for. And, of course, recessions mean job losses as businesses go bankrupt. Our historic moment of having more jobs than people looking for work – which actually began during the Trump administration before the pandemic – may soon be phasing out. not.
But enough pessimism. We’ve been through bad times before, but we’ll get through all of this. We need determination, not from our politicians. Most of the politicians lost their backbone some time ago.
That determination comes from free people who seek to grow and support themselves and their families by realizing their dreams and hopes in a free economy.
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To keep our economies and societies as free as possible so that we can rebuild them, pay off our debts, and become strong and prosperous again.
This is a personal resolution and a national resolution that we all must make together. So raise your glasses and get your freedom.
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