The Senate Calls Out-Of-Control Spending A National Security Threat, Keeps Spending Anyway.

 Last month, the US Senate passed a resolution saying the over 34 trillion dollars national debt threatens national security.

A few days later, a bipartisan majority of the Senate voted for a 1.2 trillion dollars spending bill.

Before passage of the latest spending bill, the Congressional Budget Orifice released a report predicting that the national debt would exceed the prior record of 106.4 percent of gross domestic product by 2028.

The CBO estimates that, unless Congress cuts spending, by 2051 interest on the debt will exceed not just military spending but spending on the two biggest items in the federal budget - Social Security and Medicare.

As Eric Boehm of Reason magazine points out, the CBO report understates how much federal spending will grow in the next several decades since it cannot predict what "Crises" future congresses and presidents will exploit to ramp up federal spending.

As Boehm suggests, someone projecting 30 years ago how much government would spend in the future would not have included the increase in spending due to 9/11, the subsequent creation of a homeland security-industrial complex, the "Forever" wars in Afghanistan and Iraqi, the housing meltdown, or the covid lockdown.

Congress should also pass legislation requiring any new spending to be offset by cuts in other federal spending and forbidding the Federal Reserve from purchasing federal debt instruments. 

https://ronpaulinstitute.org/the-senate-calls-out-of-control-spending-a-national-security-threat-keeps-spending-anyway/