Since Pres. Trump took office the economic news has been fantastic. Some of you will try to argue that this is former Pres. Obama’s economy but you are the same ones that will say the recent downturn in the stock market belongs to Pres. Trump so your opinion is invalid because it is tainted by politics rather than reality. But we can go down the list of the number of records reached in all of the stock market indices, increasing wages for the middle class, record low unemployment in the black community and the Latin community, and more people returning to the job market then in the past 15 to 20 years. The other side of that good news is that tax revenues to the federal government, despite all of the lamenting and lying done by the liberal side are going to reach record levels. It is anticipated that the government will take in $3.65 trillion in 2018. One thing Obama did, was also collect record amounts of revenue for the federal government.
There is one thing however that could severely hinder the bright future that Pres. Trump has created for our economy and that is the deficit. Despite the fact that we are collecting record revenues our incompetent representatives in Congress believe that is still not enough money and have proposed a budget that will add to the deficit by $1.7 trillion. What in the heck are they doing? What are they thinking? This is the same group of people that constantly tells us they will do everything they can to cut the budget deficit yet they never do. They are liars out to line their own pockets along with those of their biggest donors.
In order to finance that almost $2 trillion deficit, the federal government will have to sell bonds. In order to make the bonds attractive to investors, they will have to raise interest rates which will increase the possibility that inflation will return in a bad way. Some inflation is necessary but with the current practices by our federal government, the inflationary pressures could take that to the point where it kills the economy.
I have listened to interviews with probably two dozen representatives and senators over the last week and each one of them has said that they are adamantly opposed to further deficit spending yet they are the same ones who have voted for continuing resolutions and deficit spending in the past. The federal government is currently “shutting down” again due to the failure of Congress to come to an agreement on a continuing resolution, much less an actual budget.
And it’s not like there have not been fiscally responsible budgets proposed because there have been. There are a number of proposals that would not only continue to fund all programs to adequate levels but would also reduce the federal deficit, eventually balancing the federal budget. But the Democrats and their friends in the Republican elite continue to say that people will die, children will starve, bigotry and slavery will return, if we don’t continue to spend all of this money. If we just went back to spending levels in, say 2012, with current revenue additions, we can balance the budget and decrease the deficit to zero within 10 years. Maybe even before that given the way our economy is growing.
Pres. Trump has done quite a bit but this may be the most important thing he does; he has to reject any budget proposal that increases the deficit. I know he has the backbone to do it but will his advisers and those in Congress let him do it? This is where part of the blame comes on us, the American citizen. We have not held our federal representatives accountable for lying to us and putting us into this situation in the first place. We must get off our rear ends and call, email, write our elected officials and let them know in no uncertain terms that we are tired of those practices and we want the deficit gone. There is no reason government to have to spend $5 trillion or more. They have to begin living within their means just as everyone else has to do.
So I said it when Pres. Trump was elected, and I’m going to say it again, it is incumbent upon us to make sure that our elected officials do what we want them to do. We have abrogated our duties as citizens by letting our elected officials run rampant over us. When we won our independence from Britain, it was average people who did it and it will be average people who return the power in this country to ourselves and our local governments. The question is, are you willing to do it?