Sen. Rand Paul has been one of the politicians blasting members in Congress for continuing to add to the debt. The United States approaches almost $30 trillion in national debt, with Democrats only being offered a short-term deal to fund the government until the end of the year. Congress has failed to raise the debt ceiling and progressive members are doing everything they can to push through Biden’s radical $3.5 trillion American Families plan. Adding another $3.5 trillion to the national debt in terms of social welfare is fiscally irresponsible and GOP members are pushing back.
Sen. Rand Paul delivered a speech on the Senate floor about approaching a “$30 trillion” milestone for debt, adding that there must be some sort of ramification for so much borrowed money. He cited the government raising taxes, printing more dollars, borrowing money, and doing everything to create even more inflation.
Inflation rates are looking to increase by 5% due to the massive spending that both parties engaged in as a result of the pandemic. Paul even notes some of the “absurdities” he found in the funding. The government granted the National Science Foundation $1 million in a project that would examine whether Japanese quail who used cocaine saw an increase in their sexual promiscuity. He said these studies “littered throughout the budget” is how the country got to a $30 trillion debt, adding that the right spends on a military adventure and the left spends on welfare.
“People are saying we’re going to give you free college, free cars, free cell phones, free this, free that. Everything in life will be free; you won’t have to work anymore. The problem is there are ramifications. Money doesn’t grow on trees; money’s got to come from somewhere,” Paul said.
Paul even emphasized how shutting everything down and giving everyone free money destroyed the economy, adding that “some members” have a certain responsibility for this. He warned the Senate how Americans are growing dependent upon “free stuff” and that purchasing power will erode. “The allure of something for nothing – this is the allure of socialism,” Paul warned.
President Biden has even tried to allure people into repeating the same line that the $3.5 trillion spending package will cost “zero dollars.” Even press secretary Jen Psaki and House Speaker Nancy Pelosi are insisting on the same rhetoric that there will be no “brutal fiscal reality” or taxes that will bite the average middle-class family.
In a recent Trafalgar Group poll, 71% of voters said they would be “less likely” to support the bill if it increased taxes and the national debt. 67% of voters were in the “much less likely” category. Over half of the Democrats surveyed also said they would be less likely to support the bill if taxes were raised.
The Build Back Better plan currently includes raising the corporate tax rate to 26.5% and the top personal income tax rate to 39.6%. While Biden has promised that his plan would not raise taxes on incomes under $400,000, middle-class Americans would end up paying more in taxes over time. There are even a handful of moderate Democrats who find Biden’s plan to be too expensive, including Sen. Joe Manchin and Sen. Kyrsten Sinema.
The only thing people have seen with Biden’s failed presidency is increasing taxes and adding to the astronomical debt already on the table.