Back in 2005, I wrote that when it comes to spending, “Congressional Republicans Make French Socialists Look Like Ronald Reagan.” Looking back now, from the perspective of fiscal prudence, those were the good old days. Yet, as irresponsible as Republicans have been with our finances since then, today’s Democrats seem committed to making the spendaholic GOP look like Uncle Scrooge.
Let’s recap: The worst of the COVID-19 emergency is hopefully behind us, meaning the country should focus on recovery, fully reopening the economy and returning to work. Government should focus on scaling back emergency programs and reducing the deficit. It’s not just the prudent thing to do, it’s also what Americans want. According to a recent Pew Research Center poll, 72% of Americans view the federal budget deficit as a “very big” or “moderately big” problem. This concern is more pronounced than that surrounding any issues politicians are focusing on these days, including illegal immigration and crime.
They’re wiser than most politicians. After spending almost $6 trillion on pandemic-related programs, the deficit is up to $3 trillion from $984 billion in January 2020 (an alarming figure in itself), and our long-term fiscal prospects are looking red.