If Joe Biden wanted his administration to be memorable, he’s certainly done a number of things to make that happen. Unfortunately, for the American people, none of those things are good.
But I guess all of the horrible things that Biden and company have done in their first six months in office weren’t enough. Why do I say that? Because they are obviously trying to outdo themselves and up the insanity level. Masooma Haq writes,
The Congressional Budget Office (CBO) said on Wednesday that the U.S. Treasury Department is projected to exhaust its debt limit by October or November, as Democrats seek to raise that limit for trillions more in funding. Republicans say they oppose the move.
As of June 30, an additional $6.5 trillion had been borrowed, bringing total federal debt to $28.5 trillion. The new debt limit is set to be decided by August 2021.
Since taking office, President Joe Biden has signed a $1.9 trillion dollar COVID-relief package and Democrats are gearing up to push another $3.5 to $6 trillion package for infrastructure, climate change action, and other Democrat-backed initiatives through to Biden’s desk, with or without Republican support.
Republican lawmakers had opposed proposals for the $1.9 trillion package and are now in opposition of the $3.5 trillion infrastructure legislation, calling it wasteful spending that will only drive up inflation and taxes.
“I can’t imagine there will be a single Republican voting to raise the debt ceiling after what we’ve been experiencing,” Senate Republican leader Mitch McConnell told Punchbowl News in an interview published Wednesday morning. “I can’t imagine a single Republican in this environment that we’re in now—this free-for-all for taxes and spending—to vote to raise the debt limit,” he said.
So, what does this mean? It means that if Democrats doesn’t stop spending money hand over fist and if the debt ceiling isn’t raised again, then the Federal government could run out of money to spend in November of this year.
With all of the foolish spending that we’ve seen so far, Democrats running out of money to be able to borrow and spend may be the best Christmas present Americans can hope to receive this year.