Democrats In Senate Release Budget
Hold on to your wallets
The Senate Democrats finally released a budget for the first time in four years, something they are Constitutionally supposed to do. Understandably they have hidden this budget, it will increase spending by the federal government by 62%. In 2007 when the economic recession started the federal government was spending around 2.7 trillion, this year it will be around 3.6 trillion. If this budget was passed and kept for the next ten years, federal spending would be 5.7 trillion. That would double federal spending in just 16 years, not to mention this plan doesn’t do anything for the debt or balance the budget.
If everything goes the way they plan, we would add another 7 trillion dollars to the national debt, putting it somewhere around 24 trillion. So basically they are taking the current plan of borrowing and doubling down, not seeking any balance to our federal spending. To maintain this growth they are of course planning a large tax increase to pay for some of the new spending. They would be need to raise taxes by 1.5 trillion dollars over the next ten years, just to add 7 trillion dollars to the debt. I sincerely think these Democrats in the Senate have totally lost touch with reality. The other choice is they are purposely trying to crash the economic system completely, either way leads to nothing good.
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