Second District Congressman Rudy Yakym released the following statement today after President Biden submitted his fiscal year 2024 budget request to Congress:
“President Biden likes to say ‘budgets are statements of values,’ and the budget proposal he released today shows he values higher taxes, more spending, less freedom, and even bigger government. Unfortunately, what it doesn’t do is address the unsustainable fiscal situation we are in and the looming debt crisis the next generation will inherit unless we change course soon.
“With our national debt now larger than the size of America’s entire economy, the time to take Washington DC’s wasteful spending addiction seriously was yesterday.
“As a member of the House Budget Committee, I will work with members of both parties on common sense, responsible solutions to restore fiscal responsibility so we can stave off this crisis, lower inflation for Hoosiers, and ensure all Americans can have a bright and prosperous future.”
Background:
A recent CBO report found that paying just the net interest of our national debt will cost taxpayers $10.5 trillion over the next decade. For comparison, the net interest cost over the previous ten years was $3.05 trillion.
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“A recent CBO report found that paying just the net interest of our national debt will cost taxpayers $10.5 trillion over the next decade. For comparison, the net interest cost over the previous ten years was $3.05 trillion.”
Wait until the Fed jacks interest rates up to 10+%, then the interest alone will cost more than the entire taxes received. The spending spree is simply not sustainable.
PS. Joe Biden was lying about reducing the debt. He reduced the DEFICIT (not the same thing), but only relative to the years with massive COVID spending.
There are $billions that could be cut from the spending plan pessimistically called a “budget.” One good way to save money is to start taking large chunks of personal income and agency budgets when people lie to congress. For example, recent ravings by FBI Director Wray or AG Garland could realistically force them out of office or work for free. Every single time they try to disassemble or obfuscate take their cash. Very soon Congress (read The People) will get the answers they deserve. They already have the amendment to a bill to start taking income from errant stooge agency officials.