Blessed are the young, for they shall inherit the national debt.
~ Herbert Hoover ~
The Republican Party has officially abandoned any pretense of balancing the budget, or cutting spending. In this regard, they join their colleagues at the Democrat Party. The Libertarian Party is the only party of principle on this issue.
The biggest consequence of our massive federal government spending today is the federal debt. As of February 2018, the USA is $21 trillion in debt. That number more than quadruples to $120 trillion when you include unfunded liabilities.
The combination of the recent tax cut and spending legislation is widely expected to increase our current $21 trillion debt by an additional $1 trillion annually.
Given the amount of red ink the GOP is piling onto the backs of taxpayers, it should come as no surprise that President Trump endorsed a $.25 gas tax hike to pay for the Republicans spending spree. Trump’s plan has already been endorsed by John Kerry and Mike Dukakis.
Republican spending is bankrupting America. We must stop borrowing over $1.5 trillion a year to fund useless, wasteful, and unconstitutional programs and departments.