An article in the Wall Street Journal contains stark evidence of just how inept Washington, D.C., has become with respect to fiscal stewardship. The article by Tim Fairless and Laurence Norman is centered on a recent Eurozone deal on deficits.
Tale of the tape: 1) Debt as a percentage of GDP next year: U.S. 127 percent, Eurozone 88 percent; 2) Deficits over the next three years: U.S. 7 percent of GDP, Eurozone 2.7 percent.
Both sides of the pond have dealt with a pandemic, rampant immigration, inflation, etc. We play in the same sandbox, folks. On this side, both parties pass partisan bills that are not vetted against fiscal priorities. A tax cut, not associated with equal spending cuts, increases deficits. Hence, the GOP is no position to cry about spending.
If we really want to see change, we’ve got to fire some people. Congress has a 15 percent approval rating, and Biden is somewhere in the mid-30s. If we, as we did last year, vote 98 percent of congressional incumbents back into office, it’s on us. Period.
When we’re crushed by debt and our living standard is diminished, we should have nothing to say.
