The bipartisan deal to raise the nation's borrowing limit, hailed by both parties, barely moves the needle on pandemic-era government spending nor fixes the causes of runaway growth in the federal budget.
The runaway train of federal spending didn't stop in January when the government hit its debt ceiling of $31.4 trillion.
"This debt limit deal is focused only on discretionary spending. If you want to cut Social Security, be my guest. But that's not what this deal is about."
Spending on food stamps rose 102%; veterans programs, 50%; welfare costs, 50%; health tax credits, 45%; school food programs, 42%; unemployment compensation, 32%. Opponents of the new debt limit deal say the agreement essentially has enshrined pandemic-era emergency spending levels as the new normal.
There is a lot of wiggle room in the deal to allow for higher spending in the years ahead. The agreement includes pay-go requirements for offsetting spending increases with cuts elsewhere.
"So the fact that the current deal allows for him to continue to spend however much he does with no limit is something that I can't support."
"The legislation will reestablish some discipline in the appropriations process, impose constraints on costly executive actions, reduce unnecessary spending and, importantly, raise the debt limit and avoid default. It cuts some spending, imposes caps, and moves in the direction of limiting our out-of-control borrowing."
https://www.washingtontimes.com/news/2023/jun/3/debt-limit-deal-gives-washington-blank-check/
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