A Budget Sinkhole
This graphic from The Heritage Foundation’s The Foundry blog, posted by Conn Carroll, is all anyone needs to see as the budget debate moves towards it conclusion in the Congress. All Republicans and responsible Democrats must act together to emphatically reject this ruinous plan.
Critics are struggling to find the right words, and many say such a plan isn’t “sustainable.” Others say it is a recipe for “European style socialism.”
But New Hampshire’s Judd Gregg got it right: This sort of wild spending will bankrupt the United States, destroying the value of its currency in the process and unleashing a wicked inflation that will diminish everyone’s existing wealth while crippling the ability of young people to successfully accumulate wealth.
Responsible Democrats know this cannot be the blueprint for the future, and perhaps understand that the president wanted to be able to promise all of his many constituencies the moon and the stars and then leave it to the Senate to impose some minimum sanity of the plan.
Senate Democrats especially have to step up and impose restraint on this scheme. They know it is a recipe for a disaster, and they have to stop it.