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Congress passed the latest short-term government funding bill to keep the government running, and President Biden just signed it.
The bill effectively eliminates waste and ensures that taxpayers will continue to pay for a bloated government through January, said Senate Appropriations Committee Chairwoman Patty Murray, D-Wash. ) said: The mission is far from accomplished. There is much work to be done after the situation settles and before the next closure deadline arrives. ”
In the past, a false scenario of a government shutdown meant adding new debt while maintaining all current spending. I doubt if this time will be much different.
This “commitment” is unlikely to include reforming Social Security and Medicare, the biggest contributors to the debt, so the fiscally conservative Republicans will be ashamed of the spendthrifts (sadly too many Republicans). They should focus on other spending to make sure voters know about their taxes and Medicare. The borrowed money is wasted.
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Thomas A. Schatz, president of Citizens Against Government Waste, has compiled a list of reduction ideas to start with.
How about cutting or eliminating $196 million in the Ireland International Fund? The money went toward projects such as a pony trekking center and golf videos.
Speaking of golf, there are already 19 military golf courses in the Washington area, and last year the Department of Defense announced it would spend $5.1 million to build a new golf course at Joint Base Andrews.
One less unnecessary expense. This cost him $440,000 for the attendants pushing the buttons on the automated elevators at the Capitol complex.
The National Endowment for the Humanities mistakenly spent $4.2 million to conduct a “National Dialogue on Pluralism and Identity.” No one had a conversation with me about this topic. you?
The Pentagon and CIA hired psychics in hopes of providing special insight into various foreign threats. I had a hunch about that. Cost: $11 million.
My personal favorite was the study to determine the quality of life in Hawaii. It cost him $187,042.
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Then there were $40 million in fake food stamp claims. Five Floridians stole $20 million from Medicare, part of an estimated $17 billion in annual Medicare fraud. Too many legislators don’t seem to care because it’s not their money to spend.
If Republicans start at this extreme, with a relatively small total amount of debt, they may be in a better position to cut the spending juggernauts of Social Security and Medicare. It could also encourage people to keep an eye on the U.S. debt clock.
Financial advisory firm Morgan Stanley summed up the debt threat we face in a recent post on its website, stating, “The current federal debt mountain is already massive at more than $33 trillion, It reached an astonishingly high level after World War II, accounting for 122% of gross domestic product. According to a recent Treasury report, the government spent $659 billion on net interest payments during the fiscal year that ended in September, an increase of about 39% from a year earlier. The Congressional Budget Office estimates this interest expense. It could double in the next decade, meaning the U.S. government may be spending more on interest payments than on other major budget categories, such as defense. . ”
Debt has been a major cause of national decline and even collapse in the past. Why do we think our country can ignore basic economic rules and not suffer similar consequences?
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