US Gov Shutdown: A Warning
Government Dysfunction: Heading Towards a Shutdown
As the U.S. federal government hurtles towards a shutdown, the consequences are dire. Payrolls will go unpaid, employees will be furloughed, and blame will be thrown around. It’s a perplexing situation that leaves observers wondering how such dysfunction can exist in the United States of America.
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Amidst the chaos and finger-pointing, a crucial question remains: How can we prevent an unaccountable U.S. government from driving the country towards a fiscal cliff of soaring inflation, a credit crisis, and national insolvency? This question assumes that it’s not too late to break free from the cycle of deficit, debt, and inflation.
Surprisingly, the Biden administration and half of Congress refuse to acknowledge the problem. They are under the spell of modern monetary theory, which dangerously suggests that governments, especially the issuer of the global reserve currency, can run unlimited deficits by simply issuing more debt and then taxing away the resulting inflation. It’s as if they believe they can defy gravity with sheer willpower.
As the deadline approaches, the Biden administration and fiscal conservatives in the House are deeply divided on how to fund the government’s ongoing expenses. Continuing resolutions (CRs), temporary measures that allow the government to fund itself for the next month, are at the center of the debate. Unfortunately, there are no genuine conversations between the absent White House and the divided congressional leadership. House Speaker Kevin McCarthy finds himself caught in the middle, trying to navigate between conservative leaders demanding fiscal accountability and those who believe in endless deficit spending, consequences be damned.
Just last month, credit ratings agency Fitch Ratings downgraded the long-term credit rating of the United States, citing ”erosion of governance” as a primary reason. Fitch pointed out that the federal deficit is expected to rise significantly in the coming years, highlighting the elephant in the room: U.S. government spending is spiraling out of control, and no one seems capable of stopping it.
Shockingly, the total U.S. national debt has now surpassed $33 trillion for the first time in history. The interest payments to service that debt are approaching $2 trillion annually. Moody’s, the only major credit ratings agency still giving the U.S. a ’AAA’-equivalent rating, is warning that unresolved negotiations will worsen fiscal pressures and potentially trigger a credit crisis.
The House Freedom Caucus and other conservatives are standing their ground, and rightfully so. Continuing resolutions may provide temporary funding, but they only delay the hard decisions. It’s time to end this nonsensical process of voting on everything all at once without proper review or debate. The demand to review and approve single-subject spending bills lies at the heart of the debate.
House Speaker McCarthy promised to end the cycle of continuing resolutions and move towards single-subject spending bills. However, despite this commitment, the CR process has continued throughout 2023. Finally, under pressure from conservatives, McCarthy has agreed to act on several full-year spending bills before addressing the stopgap funding needed for the upcoming week.
These four appropriations bills—Defense, Homeland Security, Agriculture, and the State Department’s Foreign Operations—are interconnected, and conservatives in the House want to see significant reductions. They aim to end wasteful spending, secure the southern border, restrict military aid to Ukraine, and target corruption in food stamps and agricultural programs.
For instance, the United States has authorized over $113 billion in spending to support Ukraine since Russia’s invasion in 2022. Many Americans question whether this money could be better used to secure the southern border, where dangerous drugs and potentially hostile individuals continue to pour in unchecked.
All of this is happening while U.S. government departments are weaponized against political enemies and ordinary citizens, and evidence of corruption at the highest levels continues to mount.
The confrontation in Congress and the impending government shutdown are about more than just appropriations. They represent a battle for the future of our nation.
How does the divide between these two factions in Congress contribute to the possibility of a government shutdown and what would be the consequences of such a shutdown
E groups have been vocal in their resistance to the Biden administration’s spending plans. They argue that continued deficit spending will only lead to economic instability and burden future generations with unsustainable levels of debt. They urge for a return to fiscal responsibility and a focus on reducing government spending.
On the other hand, proponents of modern monetary theory, including some progressive Democrats, argue that deficit spending is necessary to stimulate economic growth and address systemic inequalities. They believe that the government should prioritize social programs and invest in infrastructure, even if it means taking on more debt.
The divide between these two factions has created a stalemate in Congress, leading to the possibility of a government shutdown. The consequences of a shutdown would be devastating, not only for federal employees and those who rely on government services but also for the overall economy. It would further erode public trust in the government and hinder the country’s ability to effectively respond to crises.
To avoid a shutdown and address the underlying issue of government dysfunction, bipartisan cooperation is essential. Both sides must be willing to engage in productive dialogue and find common ground. This means putting aside ideological differences and making tough decisions about spending priorities and fiscal sustainability.
Additionally, there needs to be a comprehensive and long-term plan for addressing the national debt. This includes implementing measures to control spending, finding ways to increase revenue without stifling economic growth, and considering necessary reforms to entitlement programs.
Furthermore, there should be greater accountability and transparency in government spending. Citizens have a right to know how their tax dollars are being used and whether government programs are delivering the intended results. Increased oversight and regular audits can help identify and eliminate wasteful spending.
It is also crucial for the Biden administration and Congress to prioritize economic growth and job creation. A strong economy not only generates revenue but also reduces the need for deficit spending. This can be achieved through targeted investments in key sectors, promoting innovation, and creating a favorable business environment.
In conclusion, the potential government shutdown highlights the deep-rooted issue of government dysfunction in the United States. To prevent further economic instability and ensure a sustainable future, it is imperative for both political parties to come together and address the structural challenges facing the country. By fostering bipartisan cooperation, implementing responsible fiscal policies, and promoting economic growth, the United States can overcome its current state of dysfunction and work towards a brighter future.
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