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Even in the midst of a divisive and angry impeachment proceeding, Republicans and Democrats somehow find a way to make common cause when it comes to spending and borrowing more and more money. The Washington Post reports that "top congressional negotiators said Thursday they had reached a deal in principle to approve $1.3 trillion in federal spending for 2020, likely averting a government shutdown next week." This is the bipartisanship that so many high-minded politicos and journalists call for, and it's killing our economic future (more on that in a moment) . . .. . . So, despite impeachment proceedings and other disagreements, Congress and the president are pulling in the same direction and digging deep into the pockets and couch cushions of current and future taxpayers. Such bipartisanship doesn't come cheap, of course . . . The people who comprise markets recognize that a day of reckoning will eventually come and government will do some combination of raising taxes, reducing services, or inflating currency. None of those outcomes, and especially the unpredictability they promise, is good for economic growth . . . Before we enter a decade of sluggish economic activity, let's at least feel good for a few days that Republicans and Democrats can pull together to spend money we don't have on programs that we don't need.
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Topic: It's Always a Good Time To Borrow and Spend! (Read 147 times)
