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Thursday, November 21, 2024
Progressives have suddenly found themselves lost in the political wilderness, caught in a self-inflicted trap of anger and fear. From the sound of their fury, they could be there for a long while. (Thoughts and prayers.) With Democrats now irrelevant, the second Trump administration has four years to take a wrecking ball to the Washington establishment, including deep cuts to federal spending and an overhaul of the bloated bureaucracy. To understand why the wrecking ball is needed, look at the annual budget deficit ' $1.8 trillion in fiscal year 2024. In a time of relative peace and prosperity, the deficit grew 8% in one year, even though federal revenue increased by 11%. In other words, the Biden-Harris administration collected significantly more money from taxpayers in the last fiscal year but still managed to blow up the deficit by an additional $138 billion. That's simply unsustainable. |
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