The government signed the $1.7T omnibus spending bill over the holidays, despite the fact that the national deficit is already too damn high.
This from thepatriotjournal.com.
The deficit approached $1.4T in 2022 and the national debt is nearly $31.5T. This will lead to a turning point in Washington D.C.:
Either D.C. starts cutting spending immediately—or American taxpayers will feel serious pain.
Many citizens have already heard concerning reports that their tax returns might not be as high this year, and the economy remains in a tenuous position.
Government will be forced to cut spending drastically or increase taxes.
Obviously, Conservatives would cut spending. But the Left?
The cost of living is already extremely high despite cooling inflation numbers. And taxes are coming to the front of the argument.
And according to a very concerning report, those taxes might jump by a lot.
Via The Daily Wire:
The federal government’s budget is in such disarray that balancing the books would require a 30% spending cut or a 40% increase in taxes, a recent study found.
The analysis in question said that the:
[F]iscal imbalance must be zero for a fiscal policy to be sustainable without future changes.
To hit that zero number:
[W]e’ll have to make a drastic change to either government spending or taxes.
And if it’s taxes, we could see across-the-board hikes on payroll taxes, business taxes, and individual taxes.
On top of that, Social Security, Medicare, and Medicaid might suffer from big cuts, which would exponentially increase the financial difficulties for many.
The study painted a very scary picture of the future, too:
Combining current debts with the present value of projected future shortfalls over the next 75 years implies $93.8 trillion of fiscal imbalance.
Recent packages Joe Biden signed will contribute over $4.8T in new deficit spending over the next decade.
The Obiden Regime lied about the deficit coming down during it’s time in office—one important fact was omitted:
Spending surges in years prior due to the pandemic were attributed to stimulus measures passed during lockdown days, and hugely altered the entire landscape before [The Regime] came in.
The bottom line is that U.S. taxpayers may be on the cusp of experiencing historic tax hikes.
[I]f that happens before the 2024 election rolls around, expect those suffering from financial woes to vote for a major change for the country.
Final thoughts: The communist/globalist intent is to bring down America. Bankrupting our once-great Nation is one obvious tool being used toward that end.
Conservatism must fix the U.S. election system state-by-state to help ensure the democrat communist/globalist machine is removed from power and from the position of diminishing America any further.
Then, of course, Conservatism must significantly bring down the wasteful spending.
God speed to Conservatism.
