national debt

Debt matters, even in a pandemic

Editors, Washington Examiner

The money is flying out the door so fast that there already has not been adequate oversight. There’s an argument to be made for lots of spending as long as it is accurately targeted and fairly allocated. But when everybody operates as though they have limitless sums of money to play with, excessive spending and a misallocation of the nation's wealth are going to become more prevalent. That’s why, even though the debt should not handcuff policymakers and prevent them from taking truly necessary actions to pull America out of its present crisis, concerns about debt must be made an important part of the conversation.

The Spread of the Debt Virus

Victor Davis Hanson, National Review

We've faced three recent existential crises. First was the 9/11 terrorist attack on the World Trade Center and the Pentagon. The second occurred in 2008, when the U.S. financial system and stock market nearly collapsed. The third began earlier this year with the COVID-19 epidemic and a quarantine. During the first two crises, we snapped back the economy with low interest rates, increased government spending, and larger annual deficits — and passed the greater long-term debt to another administration and another Congress. We are postponing another rendezvous with reality. What cannot go on much longer soon probably won’t.

Conservatives Applaud President Trump’s Proposed Spending Cuts

In their latest Memo the conservative leaders of the Conservative Action Project applaud President Trump's budget and urge him to prioritize cutting the trillion-dollar deficit in 2020. Conservatives vehemently opposed the reckless spending bill in 2019 that blew past budget caps. When Congress writes the spending bills later this year, it should follow President Trump’s lead and make significant spending cuts so that a fiscal crisis is averted.

The Taxman Cometh — And Leaveth Empty-Handed

Hunt Lawrence and Daniel J. Flynn, The American Spectator

A common enemy might help this surreal spectacle supplant the Monday Night Raw approach to politics currently in vogue. Double taxation encourages corporations and individual owners to work to avoid paying taxes. Credit to taxpayers’ dividend income for income tax paid on the income of corporations will encourage more dividends. Corporate officers would make additional income by holding shares and receiving dividends. Limits on deducting bonuses and high salaries would encourage corporate officers to own shares for the dividend income. U.S. corporations would be valued on cash flow after capital expenditures to pay dividends. Alas, it’s impeachment season during an election year. If heaven can wait, so can the reforms.

France Shows The Future For Big-Spending, Indebted America

Patrick J. Buchanan, The American Conservative

We are beginning to run historic deficits in a time of prosperity. Whatever the economic theory behind this, it bears no resemblance to the limited government-balanced budget philosophy of the party of Ronald Reagan. At what point does government consumption of the national wealth become too great a burden for the private sector to bear? At what point must cuts be made in government spending that will be seen by the people, as they are in France today, as intolerable?As the national debt surges with all the new deficits this decade, and interest rates inevitably begin to rise, interest on the debt will increase both in real terms and as a share of the budget. Again, is France the future of the West?

Conservative Leaders To McConnell: ‘a CR into December would be an error’

We urge CHQ readers and friends to call or email their Senators (the toll-free Capitol Switchboard is 1-866-220-0044 or email through this link). Tell your Senators that you will no longer countenance trillion-dollar deficits and that your vote in the 2020 election depends on their vote against more spending and for fiscal responsibility.

CAP Memo: Conservatives Do Not Support Another Short-Term, Budget-Busting Spending Bill

Over 100 leaders of conservative organizations have put their names to a Conservative Action Project Memo to the Movement stating that conservatives reject attempts by Congress to pass yet another bloated, pork-filled spending bill.

Governing By Spending Crisis

We urge CHQ readers and friends to call their Representative and Senators (the toll-free Capitol Switchboard is 1-866-220-0044), tell your Representative and Senators that you will no longer countenance trillion-dollar deficits and that your vote in the 2020 election depends on their vote against more spending and for fiscal responsibility.

Trillion-Dollar Deficits – Again: America Is Right Back Where It Started 10 Years Ago

David Ditch, CNS News

America’s fiscal health should be just as strong as that of our counterparts. Revenues are up 3.4 percent from 2018, the vibrant economy means less safety net spending compared to recession years, and the military is not fully engaged in war. Regrettably, our Congress has chafed at even modest spending restraints. Not one penny of waste should get a pass. Germany, Canada, the United Kingdom, and France are all on pace to tame their debt. Americans should expect the same responsible governance from their elected officials, and hold them accountable if they continue down the fiscal primrose path.

The Moral Dimension to Our National Debt

Michael Tanner, National Review

One wonders how all those young people complaining about their student debt would react if they understood that their theoretical share of the national debt was about $67,000. The growing debt does not come without consequences. There are, of course, economic repercussions. Over time, debt can slow growth, reduce wages, and hinder our flexibility in responding to economic slowdowns. More important, there is a moral dimension as well. Every child born today inherits a portion of that debt. We are living at our children’s expense. You can’t get much more “taxation without representation” than that. If only someone in Washington cared.

GOP List Of Shame On Budget Vote

From our perspective the spending deal was no victory, but another “fear The Turtle” moment in which the not-so-subtle big spending hand of Senate Majority Leader Mitch McConnell manipulated the White House and the House Republican Leadership into once again abandoning any pretense of fiscal restraint.

Border Wall Big Win, But Not Fundamental

President Trump and conservatives won a big victory in the Supreme Court’s Wall ruling and in the otherwise disastrous spending bill, but we must be prepared to renew the immigration fight when Congress returns in September and takes-up the next round of spending bills.

What Do You Call A One-Legged Stool?

Principles matter in elections, and with all four legs of the 2016 big table coalition working full throttle on his behalf Donald Trump is a shoo-in for reelection, but a stool or table supported only by the one leg of Donald Trump’s outsized personality is likely to crash on Election Day.

Conservatives Oppose Trillion Dollar Spending Boondoggle

The Trump administration projected in March that this year’s deficit will hit $1.1 trillion, up from last year’s deficit of $779 billion – a figure comparable to the Obama-era deficit. After months of urging congressional and administration negotiators to prioritize reductions in spending, the Conservative Action Project has come out in opposition to this irresponsible bipartisan budget deal.

Trump Sucked Into McConnell Spending Betrayal

The voters who want fiscal responsibility who powered the Tea Party Wave and the Trump Movement haven’t gone away. While they may grudgingly support President Trump in 2020 against a Far-Left progressive Democrat, congressional Republicans who think they can spend their way to reelection will face the wrath of those voters.

Don’t Let the Swamp Win: President Trump & Congress Must Restrain Spending in Upcoming Budget Deal

As Congress and the White House continue to negotiate a deal on spending caps, 76 leaders of the conservative movement involved in the Conservative Action Project have released a memo urging all parties involved to restrain spending.

Chip Roy wants to actually debate a $19 billion spending bill, and Democrats think it's the end of the world

Rachel Bovard, Washington Examiner

More and more, bills are written behind closed doors by just a handful of members, just as this bill was written by a handful of senators whose states would benefit from it, before being dumped on the larger membership, who is then told to "Pass it, or else." In standing up to the D.C. establishment, Rep. Chip Roy has joined the ranks of Sens. Rand Paul and Mike Lee, plus former Sen. Jim DeMint and others who the swamp loves to hate for doing the jobs they were elected to do. This week, that small club got a new member. Conservatives everywhere should be applauding.

Conservatives Balking At $2 Trillion Infrastructure Plan

President Trump campaigned on increasing infrastructure spending, but we see a carefully laid Democrat minefield looming in this latest “agreement” with plenty of political downside to the President and Republican 2020 candidates if he proposes raising taxes or blows up the deficit before the 2020 election.

McConnell Ready To Betray Trump on Spending

White House officials are leery of where budget talks between McConnell and Pelosi may lead, noting that the last bipartisan deal reached in early 2018 boosted spending by $300 billion over two years. Conservative policy experts are urging Trump not to trust McConnell to put together a spending deal that wouldn’t blow up the deficit.

Republican Spenders: Where’s the Backbone?

Garland S. Tucker III, The American Spectator

As liberals boast about “being morally right,” Republicans have failed to make the moral argument against more deficit spending. Is it moral to spend the nation into bankruptcy? Government has spent trillions of taxpayers’ hard-earned dollars on welfare programs to end poverty since the 1960s — but the poverty rate hasn’t declined. Was that spending moral? Was it moral to create a huge class of Americans who are permanently dependent on the government? The answer is no. It is immoral, and it is dangerous.