There are a few things you can expect without fail each December—a debate on the ethics of “Baby It’s Cold Outside,” Mariah Carey topping the charts again, Christmas trees, and Congress passing a spending bill no one has read.
Senator Rand Paul took to Fox Business this week to raise his annual holiday smoke signals in response.
“The Omnibus will be 3000 pages. We’ll get it two hours before they want to pass it. No one will read it,” Paul told Larry Kudlow.
“If 41 of us said no and held our ground until there was a compromise we could force Democrats to reduce spending,” the senator continued.
“We have completely and totally abdicated the power of the purse. Republicans are emasculated. They have no power, and they are unwilling to gain that power back,” Paul said.
He’s right to be frustrated. Washington’s spending is out into the stratosphere, we can’t even see it anymore. As a result, the Federal Reserve continues to print dollars like it’s on its way to a strip club, and inflation continues to run hot.
This is unsustainable. We’re already paying the price for this economic illiteracy, and the sad reality is it’s only going to get worse for future generations. You think you can’t afford a house now? You think wages are stagnant now? Just you wait.
But, as Paul points out, there are few people left in DC who care at all about the mess they are creating, selling us out for short-term gains and political favors instead.
“This brings upon us the lie that Republicans really are fiscally conservative,” Paul lamented. “The Democrats aren’t. They will not pretend to be fiscally conservative. Not one of them up here gives a darn about the debt.”
“Republicans all profess to, but when you make them vote on the PAGO resolution (pay as you go), that we can’t have new spending without offsetting it, they always vote to exempt it,” Paul pointed out.
— Rand Paul (@RandPaul) December 15, 2022
It’s nice to see someone in politics holding their own camp accountable. The truth is, we haven’t had fiscal conservatism or true free-market capitalism in ages. And we didn’t end up where we are because Democrats are just really good at playing chess. Hardly. Rather we have been sold out, little by little, by the wolves in sheep’s clothing that profess to share our values while pushing policies that betray them.
And as a result, you have a lot of young people who think the current system we have, and all of the economic fallout it creates, are capitalism. Due to that, they’re beginning to look for other ways of doing things, and it makes sense, because our current trajectory will take us right off a cliff.
Capitalism is the greatest system ever known to man. And a fiscally conservative government coupled with that economic system has previously led to the greatest advancements and wealth creation known to man. It can do that again, but our leaders must start fighting to return us to that framework.
Shoving through last-minute bloated spending bills is the opposite of that.
“I mean what do Republicans stand for?” Kudlow asked Paul. “We need lower spending, we need less government, we need lower taxes and regulations, we need a growthier economy.”
“You got J. Powell and the Fed today, senator, basically saying their restrictive policies are gonna lead to a recession next year. Fiscal policy, if it were growthier…might stop the inflationary wave, might stop the Fed from printing money, where is the GOP, why is this so hard?” he summarized.
“Balancing the budget, how hard would it be?” Paul asked. “If we passed 2019’s budget…if we passed that today, the budget would balance. That’s how much spending has grown over the past three or four years.
“All that COVID spending is baked in and we’re bankrupting the country and we’re adding debt faster than we’ve ever added it in the history of the country,” the senator continued.
Our economy is a policy choice. It doesn’t have to be this way. But don’t believe for a second either of the major two parties’ establishments are going to save us.
Thankfully, there are still some canaries in the coal mine, like Dr. Paul… but the mine is collapsing and the oxygen is going to run out soon.