You can’t spend more than you have without acquiring debt. And eventually, you will have to pay that debt. I believe most people understand this basic principle of fiscal responsibility.
Every day, families make choices on how they plan to spend their hard-earned paychecks without taking on crippling debt. It’s unfortunate that Democrats in Congress don’t seem to understand this.
Despite an economy that is well on the path to recovery, Democrats are continuing down the path of reckless spending. This week, they rammed through a massive $600 billion spending package. It provides unprecedented increases for their socialist priorities, like heavy-handed government regulations, the Green New Deal, and mass amnesty for illegal immigrants, all while underfunding our national defense.
This is not Monopoly money. This is taxpayers’ money. The more we spend, the higher inflation rises.
And right now, inflation is rising at a rapid pace. In fact, it has risen every month President Biden has been in office. This means families are paying more for just about everything from gas to building materials. According to a recent study, 83 percent of Americans said they noticed price increases on their commonly purchased groceries or household goods in June and July. Further, more than half of Americans are moderately or significantly concerned about future price increases.
Make no mistake: President Biden and Congressional Democrats’ spending spree is causing this inflation. We cannot continue this out-of-control spending because it’s American families who will ultimately pay the price.