ttps://www.msn.com/en-us/money/markets/u-s-national-debt-tops-33-trillion-for-first-time/ar-AA1gU9nn?ocid=iehp&cvid=3c3b0e0e5e6a485ca2a4787592316949&ei=12
9/18/2023
Can we start making these BIDEN/OBAMA politicians responsible for this debt?
ttps://www.usdebtclock.org/
To view the clock – add an ‘h’ to the above. It is frightening.
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U.S. National Debt Tops $33 Trillion for First Time
Story by Alan Rappeport •1h
MARKETS TODAY
The debate over the debt has grown louder this year, punctuated by an extended standoff over raising the nation’s borrowing cap.© Kent Nishimura for The New York Times
WASHINGTON — America’s gross national debt exceeded $33 trillion for the first time on Monday, providing a stark reminder of the country’s shaky fiscal trajectory at a moment when Washington faces the prospect of a government shutdown this month amid another fight over federal spending.
The Treasury Department noted the milestone in its daily report detailing the nation’s balance sheet. It came as Congress appeared to be faltering in its efforts to fund the government ahead of a Sept. 30 deadline. Unless Congress can pass a dozen appropriations bills or agree to a short-term extension of federal funding at existing levels, the United States will face its first government shutd
Over the weekend, House Republicans considered a short-term proposal that would slash spending for most federal agencies and resurrect tough Trump-era border initiatives to extend funding through the end of October. But the plan had little hope of breaking the impasse on Capitol Hill, with Republicans still divided on their demands and Democrats unlikely to support whatever compromise they reach among themselves.
The debate over the debt has grown louder this year, punctuated by an extended standoff over raising the nation’s borrowing cap.
That fight ended with a bipartisan agreement to suspend the debt limit for two years and cut federal spending by $1.5 trillion over a decade by essentially freezing some funding that had been projected to increase next year and then limiting spending to 1 percent growth in 2025. But the debt is on track to top $50 trillion by the end of the decade, even after newly passed spending cuts are taken into account, as interest on the debt mounts and the cost of the nation’s social safety net programs keeps growing.
But slowing the growth of the national debt continues to be daunting.
Some federal spending programs that passed during the Biden administration are expected to be more costly than previously projected. The Inflation Reduction Act of 2022 was previously estimated to cost about $400 billion over a decade, but according to estimates by the University of Pennsylvania’s Penn Wharton Budget Model it could cost more than $1 trillion thanks to strong demand for the law’s generous clean energy tax credits.
Pandemic-era relief programs are still costing the federal government money. The Internal Revenue Service said last week that claims for the Employee Retention Credit, a tax benefit that was originally projected to cost about $55 billion, have so far cost the federal government $230 billion. The I.R.S. is freezing the program because of fears about fraud and abuse.
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Reblogged on kommonsentsjane/blogkommonsents.
9/18/2023
This is one big-time spending items:
Posted on March 22, 2023 by kommonsentsjane
3/24/2023
ttps://www.msn.com/en-us/news/opinion/it-s-time-for-woke-to-be-put-to-sleep/ar-AA191i46?ocid=msedgdhp&pc=U531&cvid=dce8b2fc318148bb86e85ae311f6c5f9&ei=31
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ttps://rantsofizzo.com/rosalind/destructive-federal-overreach-federal-judge-delivers-blow-to-bidens-climate-spending/
3/22/2023
GOVERNMENT CORRUPTION‘Destructive Federal Overreach’: Federal Judge Delivers Blow To Biden’s Climate Spending
ByRosalind DoylePublished1 day ago
The Biden Administration has been pushing its radical environmental agenda, and it’s had a major blowback this week. A federal judge has blocked the environmental regulations redefining how water sources are protected, but which opponents have argued were an example of overreach.
Texas Attorney General Ken Paxton said in a statement Monday that the unlawful rule would have saddled Texans across the state with crushing new regulations, slowing our state’s economic development and limiting our job growth. He added that securing an injunction stops the rule from going into effect, and called it an important victory protecting the people of Texas from destructive federal overreach.
The rule ultimately opens the door for the federal government to regulate wetlands, lakes, ponds, streams and “relatively permanent” waterways, largely mimicking a pre-2015 environmental rule set during the Obama administration which implemented the changes in an effort to curb water pollution.
The Biden administration’s push for this rule is just the latest example of their out-of-control spending. We’ve already seen Biden’s $1.9 trillion stimulus bill, the proposed $2 trillion infrastructure plan, and his $4 trillion annual budget. All of these plans are paid for with taxpayer dollars and are likely to add trillions to the national debt.
The Trump administration had reversed the Obama-era rules, loosening federal protections on water sources, such as puddles and ditches, that it didn’t consider navigable waterways or in need of federal oversight. A federal court, though, struck down the reversal in 2021 and implemented a middle-ground WOTUS interpretation that didn’t go as far as the Obama administration’s rule.
House Republicans have taken aim at the regulation with nearly 200 members urging the Biden administration to rescind it in January. And, earlier this month, the House passed bipartisan legislation to overturn the rule.
This is yet another example of Biden and the Democrats overreaching and trying to push their radical agenda at the expense of taxpayers. This ruling is a major win for states like Texas and Idaho, who have been fighting back against this destructive and expensive rule.
kommonsentsjane
kommonsentsjane 