The Republicans on the far right and the Democrats on the far left aren’t happy, so this debt ceiling bill must be a good compromise. The debt ceiling will be raised, and America will pay its’ bills. All because a Democratic President and Republican Speaker of the House hammered out a deal. A deal that freezes government spending for the next year, and only allows for a one percent increase the year after. Other than for our military and elderly, there will be no budget increases.
Isn’t that the way government should work? Recognizing that we can’t keep spending more than we bring in. We need to understand that the Nation’s debt grew at a record level, and nothing is more dangerous to our economy than ignoring it. In other words, we need to show the world that we can govern and still understand a checkbook.
This agreement isn’t the end all be all. In fact, it still isn’t the solution to a balanced budget, but it’s certainly moved towards that. It does recognize the separation between the haves and have nots. And it does keep some of the additional money invested in the IRS.
You’ll hear parts of the deal that seem to be partisan, but are easy to prove as facts. Under President Donald Trump, our Nation took on more debt in four years than under any other administration. And it wasn’t all because of COVID. In fact, you could argue that it wasn’t COVID at all. It was done with an understanding that for the most part, all you need to do is make people happy. If that means throwing money at them, then who cares!
The success of this agreement will be determined by how deep of a recession we go into. If the markets don’t see it as a sign of discipline, then the burden is on us. Are we willing to accept having less government in our lives, rather than just saying it?
The new Farm Bill will be just the test for that. What we ask for and send our delegation to receive will say it all.
And I think we all know what that answer is.
Good riding with you,
Joel
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