Republicans are holding the nation hostage to the debt ceiling if Democrats don’t effect an austerity budget. They forget they are responsible for it.
NYTimes calls out Republican debt realities.
Republicans are always projecting on just about every issue. And the debt ceiling is one that they are playing with now that could have major repercussions. It will do well for Democrats, Progressives, and sensible Republicans to highlight and expand on what the New York Times found. It turns out Republicans are just as responsible, if not more, for the debt than Democrats.
The New York Times article “Republican Votes Helped Washington Pile Up Debt” is probative.
WASHINGTON — President Biden will submit his latest budget request to Congress on Thursday, offering what his administration says will be $2 trillion in plans to reduce deficits and future growth of the national debt.
Republicans, who are demanding deep spending cuts in exchange for raising the nation’s borrowing cap, will almost certainly greet that proposal with a familiar refrain: Mr. Biden and his party are to blame for ballooning the debt.
But an analysis of House and Senate voting records, and of fiscal estimates of legislation prepared by the nonpartisan Congressional Budget Office, shows that Republicans bear at least equal blame as Democrats for the biggest drivers of federal debt growth that passed Congress over the last two presidential administrations.
The national debt has grown to $31.4 trillion from just under $6 trillion in 2000, bumping against the statutory limit on federal borrowing. That increase, which spanned the presidential administrations of two Republicans and two Democrats, has been fueled by tax cuts, wars, economic stimulus and the growing costs of retirement and health programs. Since 2017, when Donald J. Trump took the White House, Republicans and Democrats in Congress have joined together to pass a series of spending increases and tax cuts that the budget office projects will add trillions to the debt.
The article created a false balance. But one paragraph made it clear that Republican policies have contributed more to what the country owes than Democratic policies.
The tax cuts’ price tag outweighed the net cost of the two most fiscally consequential bills that Mr. Biden and Democrats passed along party lines: a $1.9 trillion economic aid bill in 2021 and a climate, health and tax bill approved late last summer, which is projected to reduce future deficits by nearly $300 billion.
Notice that while President Joe Biden has come out with a budget, Republicans continue to delay. They are trying to do the impossible, keep tax cut giveaways and cut taxes while having a responsible budget. It is an impossible feat, and that is why they have no budget. America must wake up to the Republican fraud. If we don’t, they will collapse our economy.
Check out my books on our economic fraud, the necessity to engage the other side, and the creation of a real economy that serves us all. Subscribe to our YouTube Channel to help us get to 100,000 subscribers. Help us deliver the progressive message widely by joining our YouTube channel.
SET YOUR REMINDER: Watch/listen/engage in the civil discourse on these and many issues at Politics Done Right daily (3 PM CT/4 PM ET/1 PM PT/2 PM MT). Podcasts (Video — Audio).