Free Republic

Wake up, America. That ticking sound you’re hearing is the American debt time bomb that with each passing day is getting precariously close to detonating and crashing the US economy. Businesses, consumers and especially the federal and state governments have become hooked on red ink as if it were crack cocaine. Two factors have fueled this borrowing binge: an era of low interest rates (that’s coming to an end) and falling real wages thanks to the 15% rise in prices of Bidenflation. Let’s review the borrowing up-escalator that accelerated during COVID but hasn’t subsided. The King Kong of borrowing is...

The Senate must soon increase the national debt limit to above $13 trillion — and Democrats are looking for political cover. Knowing they will face unyielding GOP attacks for voting to increase the eye-popping debt, Democrats are considering attaching a debt increase provision to a must-pass bill, possibly the Defense Department spending bill, according to Democratic and Republican sources. Adding it to the defense bill would allow Democrats to argue that they voted for the measure to help troops in harm’s way — and downplay that their vote also expanded the limit for how much money the country can borrow....