Deficit Spending Has a Simple Solution
By Heather Elizabeth Pielke, Member of the Republican Women of Baltimore County (RWBC)
Was there ever a full news account of the how $25 trillion dollars in unprecedented and ineffective debt spending occurred in the last 21 years? Given the fact that our national deficit never exceeded $5 trillion, and the U.S. had fewer economic problems, even without deficit spending or any prior deficit spending ever in the history of the U.S. Did you know China has been funding our deficit spending habits? Why would China be able to loan that money to the United States? Did China aggressively pursue manufacturing deals with the United States, offering lower priced products causing the shutdown of US manufacturing? Oddly, this communist country refuses to try capitalism and forget tolerance of Christians or any religion in their country.
How do we as a nation fix our dependency on Chinese goods and the deficit spending that goes along with a trade imbalance? We become an American First Nation; return to the manufacturing giant we once were. Work with bi-partisan support to place tariffs on all Chinese goods, making their products competitive in the marketplace with American made goods. The Republican party leadership should cover these topics in Congress and in the press with the goal of eliminating an excessive national deficit both now and in the future.
The total U.S. national debt as of 2021 was $28.4 trillion, as published by the government Treasury website (fiscaldata.treasury.gov). If $24 trillion was the highest amount borrowed in the last 21 years, and there are 330 million people living in the U.S., then if every American had benefited from that money, they would have received $72 each. Would it be worth risking our economic security with this kind of deficit loan? Next, let us think about the fact that there are currently about 5.9 million unemployed Americans. If just the most desperate unemployed population of the U.S. are the sole recipients of $24 trillion dollars, then they would have received about $4 million each. Would that justify risking our economic security with a set of deficit loans of $24 trillion in the last 21 years? I think not. Prior to those loans the U.S. national deficit never exceeded $5 trillion ever in U.S. history. The irony is that not even the unemployed received $4 million each.
Two simple changes to our out-of-control deficit spending, tariffs on Chinese goods and cancel the National Deficit Increase Legislation from 2001. Send a message to your representatives as it appears from these statistics, it never helped America to borrow this money and long term it will cost the U.S. its economic security.
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