Neighborhood Ministries

While President Biden totes his massive spending bill (one of several) he talks about the fact that it won’t cost the average American because they will be taxing the rich and large corporations. It sounds nice but ignores basic economics. First, there aren’t enough rich to pay the price for the spending they want. Second, the rich won’t pay it. They will hide their money in tax free accounts. That will take money out of circulation which would normally be used to create new businesses and expand old ones. Next, taxing big corporations would hurt the average American because businesses would pass the cost on to the consumer (you and me) in higher prices for goods and services. That would hurt the poor, the retired, and others on fixed incomes who wouldn’t get pay raises. The less business, the less taxes coming in. Lastly, increased revenue only fuels their desire to spend more so the added money won’t pay down the debt.

It is really upsetting to see the rhetoric flying about the budget proposal. The Democrats are accusing the Republicans of refusing to give in and increase the debt limit when that is a two-way street. The Democrats aren’t giving in on cutting spending. The Democrats just want to up the debt limit so they can continue their wasteful spending. The Republicans gave in so they couldn’t be accused of shutting down the government and so we got saddled with a huge increase in spending again. It is time we call a stop to the wasteful spending and require our legislators to live within their budget like everyone else has to. Raising the debt limit will only put off the inevitable need to cut spending. The debt is getting so large it is hard to even pay the interest on it and allowing it to increase will only increase the interest. Eventually it will reach the point where we can’t pay the interest, let alone pay on the principle. It is time we demand that our law makers honor their campaign promises and cut spending. They won’t do it on their own, the American people have to demand that they do so.

President Biden just ordered a raise for federal employees. After robbing the average American by fueling inflation by pushing through massive new spending  and crippling the American energy programs, he turned around and hurt them again by pushing through huge new taxes. Now, he is rewarding the bureaucrats who already make fantastic salaries, and who are almost immune from firing due to strong unions, supported by laws enacted by liberal Democrats. The increased  cost of those raises will raise the budgets of federal agencies, however, there is nothing in the Constitution that authorizes the President to order expenditures from the treasury. The House must initiate and approve all budget items and they must be approved by the Senate. Once passed by Congress, the President has the authority to approve them or veto them, but can not change them. President Biden seems to think he can take the law into his own hands and change it at his own discretion.

The Bible says that there will be a world dictator who will seize control in the last days but it does not say when it will occur. It could be any time. For that to happen, there must be a world-wide crisis that will force the nations to unite under one world government. President Obama pushed the nation deep into debt to support his failing economic policies. He supported his spending by printing trillions of dollars of money which was worthless because the money was not backed by anything. It was basically a promise to pay. President Trump reversed many of those policies and tried to get us back on a firm financial policy, but President Biden has restored many of those policies and inflation has returned. That is dangerous since most nations today are stockpiling American dollars because it is more sound than any other currency. That contained inflation temporarily. However, many nations are seeing the possible collapse of the American dollar and shifting to precious metals and other currencies so that we could face a sudden collapse in the value of the American dollar as other nations begin selling them off. If that happens, American dollars could become worthless overnight causing the collapse of our economy. If the United States collapses, it will take down a great deal of the world because they are so dependent on us and could easily lay the groundwork for a world-wide dictator to take power. I go into government and economics in “Truly In The World, But Not Of It-part B” under “Government” and “Economics”.

Liberals just passed the $20 billion dollar “Inflation Reduction Act” and it was signed into law. They are promoting it as a great success. However, you need to be aware of what they have succeeded in doing. They will promote it as a great accomplishment in reducing inflation, however examining the facts will point out certain problems. First, they are responsible for the inflation with the massive spending bills that they have passed. Inflation is caused by a lot of money available with few goods to purchase. Goods are in short supply due to their failed economic policies and adding more money will only accelerate the inflation. To counter that, the bill includes massive new taxes on the middle class to reduce the money supply. As a result, the middle class will lose due to both inflation and higher taxes. They passed out a massive amount of money in the form of free benefits to make people grateful to them and vote for them, but nothing is ever free. They now have to take back all the money they gave out but it will be buried in your tax bill so most people won’t see  it, because it will be just a line item on their paystub. People will be grateful for the benefits and not realize how high a price they are paying for them. The rich will shift their funds to non-taxable funds and raise prices on what they sell so the main burden will fall on the middle class. The inflation is usually followed by a recession due to declining sales. The middle class lose again as declining sales reduce work and income, while the rich benefit by writing off their loses as tax deductions. As a result, the middle class lose both ways. Second, the bill includes funds for a massive number of new IRS agents who will join the large number of FBI agents that President Obama hired just before leaving office in harassing and threatening conservatives who oppose their liberal policies.