OPINION | This article contains commentary that reflects the author's opinion.
The Democrat’s out-of-control spending has wreaked havoc on the U.S. economy by driving up inflation to record levels.
This has negatively impacted the ability of American families to purchase basic necessities like groceries and gas.
Even tech entrepreneur Elon Musk recently trashed Joe Biden’s “Build Back Better” plan because Democrats are simply spending money that we don’t actually have.
Musk argues that the federal government spends roughly $7 trillion per year while only netting roughly $4 trillion, which leaves a massive $3 trillion loss.
This is “insane,” according to the self-made billionaire. “I would say can this bill, don’t pass it. That’s my recommendation,” Musk concluded.
Failing to learn their lesson, the Democrat-led Congress has decided to increase the nation’s debt ceiling by $2.5 trillion. This delays any default on the debt until 2023.
Treasury Secretary Janet Yellen warned that the U.S. would be unable to meet its financial obligations if Congress failed to act.
Every Republican rejected the measure except for anti-Trump Rep. Adam Kinzinger of Illinois. Kinzinger has sided with Democrats after he notoriously joined their vote to impeach President Donald Trump.
Kinzinger is also one of two Republicans chosen by Nancy Pelosi to join her witch hunt in the Democrat-led partisan committee to investigate the January 6 riot at the Capitol.
Fortunately, Kinzinger will soon retire as Democrats have issued redistricting maps.
Following the decision to raise the debt ceiling, Senate Majority Leader Chuck Schumer said, “No brinksmanship, no default on the debt, no risk of another recession: responsible governing has won on this exceedingly important issue.”
“The American people can breathe easy and rest assured there will not be a default.”
The joint resolution first passed the Senate 50-49 in the afternoon and the House 221-209 hours later.
More from Daily Caller:
The House took up the bill at about 9:00 p.m. Tuesday, officially passing it around 12:15 a.m. The new cap is expected to last through the 2022 midterms, meaning that the next debt limit fight could be waged among a divided Congress.(RELATED: Senate Clears Way For Democrats To Lift The Debt Ceiling After Agreement Between Schumer, McConnell)
Raising the debt ceiling had resulted in partisan impasse for months, with Republicans long insisting that Democrats lift it on their own by attaching it to their filibuster-proof tax and spend package even after Congress agreed on a short-term raise to delay a default in October. But Senate Majority Leader Chuck Schumer repeatedly refused to do so, and in an effort to avoid default, Minority Leader Mitch McConnell agreed to a deal that allowed Democrats to lift the ceiling on their own via a standalone bill.
Though McConnell was criticized by Republicans’ right flank over the deal, which allowed for a separate bill enabling Democrats to lift the ceiling without overcoming a filibuster, enough in his caucus supported for it to be adopted last week. Nevertheless, McConnell criticized Democrats for preparing to raise the debt ceiling while the national debt already totaled approximately $29 trillion.
“Later today, every Senate Democrat is going to vote on party lines to raise our nation’s debt limit by trillions of dollars,” McConnell said. “More printing and borrowing to set up more reckless spending to cause more inflation to hurt working families even more,” he later added, as House Republicans echoed hours later.
The debt ceiling’s House passage came after a lengthy session that saw the chamber approve a resolution recommending charges of criminal contempt for ex-Trump chief-of-staff Mark Meadows over his defying a subpoena from the Jan. 6 committee, a bill to combat Islamophobia globally and bipartisan legislation banning the import of goods made with Uyghur slave labor in China’s Xinjiang province.
