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Economics-E-B

13 Mar

It is amazing to see the way the present administration is playing the American people. Two banks have folded in the last week and President Biden has stated that the federal government will guarantee depositors  get all their money, but it won’t cost the taxpayers anything. It will be interesting to see where the money comes from because the federal governments gets its funds from the taxpayers. He may think he can just charge it to the national debt but not unless he gets the debt limit raised and borrows the money. Even if he borrows the money, it will have to be paid back sometime and that money will have to come from taxpayers. It is like he thinks the American people gave him a credit card with no debt limit. That is foolish thinking. He is pushing a fantastic raise in the national debt with his budget and says Congress has to raise the debt limit to accommodate the increased debt. Ever since President Clinton began the brinkmanship over the budget, liberals have pushed huge  increases in debt and forced Congress to raise the debt limit to accommodate it by refusing to negotiate on the budget until it comes down to passing the budget or shutting down the government. Conservative representatives feel it is better to accommodate them then shut down the government, so they give in. When I was growing up, that was called blackmail, but apparently they feel it is just politics. We cannot continue to increase the debt limit to accommodate the out of control spending. Americans seem to be blinded by the prospect of getting free money from the government and don’t stop to think that they are the ones providing the money that they receive.

 

 

 

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