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Can’t Congress Pay for ANYTHING?

We’ve said for months that reasonable people can disagree about the wisdom of another $95,000,000,000 foreign aid bill for Ukraine, Israel, and Taiwan. That includes another $61 billion ($24 billion in direct bilateral aid) for Ukraine on top of the nearly $75 billion we’ve already spent.

Not One Penny of This Is Paid For

What we’ve said from the start of this debate is any foreign aid should be provided in the form of a loan to the recipient country, not a handout. Instead, the bill is packed with bogus “forgivable” loans that will never be repaid.

We’ve also insisted that any additional spending should be paid for not by adding to the $34 trillion national debt, but cutting an equal amount from other programs in our near $7 trillion budget.

This would have merely required shaving 5.5 percent off of this year’s discretionary spending or 0.5 cents of every dollar spent on discretionary programs over the next ten years.  Why is this so hard? Remember, we are spending $1 trillion more a year now than before the lockdowns. We are giving billions more to a Biden administration that has turned the Pentagon into a massive green energy program.

This aid package is further evidence that in this Congress (and both parties are guilty) the idea of “pay as you go” budgeting has been tossed out the window.

Sad to say, but now both parties are adhering to the sophistry of “modern monetary theory.”

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