Reining in wasteful agricultural spending can help America reclaim its fiscal future
It’s no secret that the COVID-19 pandemic has wreaked havoc on America’s finances and unleashed a massive federal spending spree. In the aftermath of the pandemic, our nation’s total federal debt has climbed [1] to more than $28 trillion and neither the Biden administration nor the Democrat-controlled Congress show signs of easing up on spending.
This week, the House Republican Study Committee (RSC) released their alternative Fiscal Year 2022 budget [2], entitled
Reclaiming Our Fiscal Future, which presents a bold plan to balance the federal budget in just five years. While the budget covers the full range of both mandatory and discretionary spending, the RSC rightfully targets agriculture as one area that can produce savings for taxpayers and create a more free-market agriculture economy that improves opportunity for farmers. The Republican Study Committee deserves credit for its bold and
GOP needs to move on
The McDonough County Voice
We are more than a hundred days into the Biden Administration, and Republicans continue to question the past election.
Donald Trump carries on with his cries that the election was stolen. Fellow GOP members also scrutinize the election process, although they believe Biden was legitimately elected. But many Republicans in Washington disparage the recent presidential election, despite numerous court challenges that have failed to find any proof of malfeasance. House Minority Whip and Republican Steve Scalise and House Republican Study Committee Chairman Jim Banks have both criticized the recent election and have cast doubt on its credibility.
The House s Republican Study Committee
released a budget that lays out several measures to deal with inflation, a growing concern among economists after the latest federal data showed a
spike in consumer prices. Notably, the index for used cars and trucks rose 10%, the largest one-month increase since BLS began recording the data in 1953. Food and energy costs rose 0.9% in the month of April, prescription drugs rose 0.5%, and gasoline rose 1.4% during the same month. The energy cost index rose 25% in the previous 12 months.
Republicans on the committee say their plan would address concerns over inflation by balancing the budget within five years, thereby eliminating the need to monetize debt, a process where the federal government prints money to make payments on what it owes. The national debt has soared to more than $28 trillion and is expected to continue climbing under President Joe Biden s new spending plans.
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