The Fiscal Irresponsibility Act
The “Fiscal Responsibility Act”
Under Speaker McCarthy’s generalship the United States House of Representatives has approved the “Fiscal Responsibility Act.”
Fully 149 Republicans issued their consent; 71 did not.
The thing will next proceed to the United States Senate — where it will receive the rubber stamp — then to the White House where the presidential signature will come applying.
Thus the debt roof will rise.
Need we mention that the United States House of Representatives that approved the “Fiscal Responsibility Act”…
Is the same United States House of Representatives that last year approved the “Inflation Reduction Act”?
It is true. It is the same legislative body — with a slightly different membership.
The Next Act
We next anticipate approval of the “Honest Politician Act.”
That is, we expect another cruel jest upon the American people.
That is because the title of the acts and the substance of the acts do not square.
They generally war with one another — and savagely.
The title camouflages the substance within. It is a lipsticking of a pig. Believe it:
The Inflation Reduction Act no more reduced inflation than kerosene reduces flames.
It represented — in actuality — inflationary kerosene itself.
It spent and spent. Then it spent more.
Does the sun rise above the eastern horizon each morning? Does it settle beneath the western horizon each evening?
Well, then, you can just depend on it:
The “Fiscal Responsibility Act” will prove no more fiscally responsible than a guttersniping wastrel is fiscally responsible.
A Drop in the Bucket
The Congressional Budget Office estimates the thing could knick projected deficits by some $1.5 trillion over the following decade.
Did you see that? The act could knick projected deficits by some $1.5 trillion over the following decade.
And by a mere $1.5 trillion — over the following decade?
Fill an ice bucket to its brim with water. Now siphon up one solitary water drop.
There you have the flavor of it.
A $1.5 trillion siphoning over one decade represents — as the phrase runs — a drop in the bucket.
And recall: This very slight siphoning could occur. In every likelihood it will not.
Was There Ever Any Doubt?
Mr. Ryan McMaken, he of the Mises Institute:
Rep. Scott Perry is one of the 71 dissenting Republicans. From whom:
The late Joe Sobran labeled Democrats “the evil party.” Republicans were “the stupid party.”
Thus he concluded that “bipartisanship” yields outcomes both evil and stupid.
Down the River of Debt We Go
Perhaps Sobran hooked into something…
Under the deal Republicans get their guns. Democrats get their butter.
And the taxpayer gets the bill.
He pays now through higher taxes — or later through higher interest payments on the debt.
But pay he will.
What is the sole surprise about this debt ceiling deal?
That anyone could be surprised by this debt ceiling deal.
As we have maintained before:
Republicans and Democrats might stage a splendid combat for the crowd. They batten upon each other with savage and vicious blows.
But watch closer.
The combatants do not strike at the vitals. And the blood is fake.
When it comes to borrowing and spending… Republicans and Democrats are as united as any lovers could hope to be.
Threaten to cut them off.
Then watch the warfare immediately halt… and the hands of peace come extending from both sides.
This we have just witnessed. The debt ceiling is raised.
And so today we drop a mournful tear on the ashes of fiscal responsibility.
As we have noted before, Republicans once defended the approaches to the United States Treasury.
But they have since sold the pass.
And both parties have sold us all down a river…
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