Former Senator Judd Gregg of New Hampshire, known as a deficit hawk during his time in government, has written in The Hill this week that not only are there no deficit hawks left in Congress, there aren’t even any deficit pigeons.
After the omnibus bill passed by the GOP congress, aided by better-known big spenders, the Democrats, Gregg says fiscal responsibility has been abandoned. He writes:
As to the Republican Congress, someone asked if there are no “deficit hawks” left in the Congress? The answer is that there are not even any “deficit pigeons” in this Congress.
One can understand why the president is so oblivious to the results of his actions in exponentially increasing the federal debt.
He does not care.
As a businessman, running up debt that could not be repaid became one of his most successful tactics. Not paying his debts in full or filing for bankruptcy worked for him in his prior role as a hotel builder. It can be assumed that he sees it working in his present role.
Trillion-dollar deficits as far as the eye can see, along with $1 trillion interest payments? It is unsustainable, to put it kindly.
Bankruptcy for a nation, however, is not a viable option.
The bill passed by the Congress and signed by the president sets a fundamentally new tone for the Republican Party.
Had this bill been brought forward by a Democratic-controlled Congress, one suspects that every Republican in the Senate would have voted against it.
Read more here.