Not Allowing Americans to Help Themselves

President Joe Biden waves to the guests during a CNN Town Hall with Anderson Cooper Monday, Feb. 16, 2021, at the Pabst Theater in Milwaukee, Wisconsin. (Official White House Photo by Adam Schultz)

As Joe Biden looks to release the “biggest-ever” federal budget, it is a good time for Americans to reflect upon the implications of the fiscal and regulatory tentacles of today’s federal government,” cautions Wayne Crews of the Competitive Enterprise Institute.

A Spending Surge Like No Other

Mr. Crews assigns blame to both parties. Crews notes that it is time to consider the proposal by Republicans to cut a deal to spend $1 trillion on infrastructure with the already enacted and underway American Rescue Plan, followed by “Jobs” and “Families.”

One finds nothing much “American” about such national top-down spending and regulatory schemes. In nominal terms, America progressed from the Framers until Ronald Reagan before experiencing a $1 trillion budget. George W. Bush gave us our first $2 trillion and $3 trillion budget; Trump ushered in $4 trillion. That’ll double to $8 [trillion] under Biden by 2031.

Intergeneration Wealth vs Intergenerational Federal Debt

Even after adjusting for inflation, James Freeman reminds WSJ readers, “federal spending has more than doubled since Reagan days and now President Biden is promising a spending surge like no other.”

Mr. Crews hopes for “stirrings of a movement to not just allow but expect Americans” to be able to “help themselves, their families, and provide for their own secure retirements and health care, and to pass down intergenerational wealth instead of intergenerational federal debt.”

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Debbie Young
Debbie, our chief political writer of Richardcyoung.com, is also our chief domestic affairs writer, a contributing writer on Eastern Europe and Paris and Burgundy, France. She has been associate editor of Dick Young’s investment strategy reports for over five decades. Debbie lives in Key West, Florida, and Newport, Rhode Island, and travels extensively in Paris and Burgundy, France, cooking on her AGA Cooker, driving through Vermont and Maine, and practicing yoga. Debbie has completed the 200-hour Krama Yoga teacher training program taught by Master Instructor Ruslan Kleytman. Debbie is a strong supporting member of the NRA.