NOT GOING TO HAPPEN

CAL THOMAS COMMENTARY APRIL 28, 2023

    HOUSE REPUBLICANS HAVE NARROWLY PASSED A BILL THAT WOULD RAISE THE DEBT CEILING UNTIL NEXT MAY WHEN THEY’LL DO THIS ALL OVER AGAIN. THE MARGIN WAS 217-215 WITH EVERY DEMOCRAT VOTING AGAINST IT ALONG WITH FOUR REPUBLICANS.

DEMOCRATS OPPOSED THE MEASURE BECAUSE IT ALSO INCLUDES $4.8 TRILLION IN SPENDING CUTS. REFUSING TO CUT SPENDING IS WHAT HAS PUT US IN AN UNSUSTAINABLE DEBT OF $31 TRILLION.

    IT’S UNLIKELY THE SENATE DEMOCRAT MAJORITY WILL GO ALONG AND EVEN IF THEY DID THE RESPONSIBLE THING, PRESIDENT BIDEN WON’T SIGN IT. HE WANTS TO SPEND MORE AND PROBABLY WANTS ANOTHER GOVERNMENT SHUTDOWN SO HE CAN BLAME REPUBLICANS.

    THE SENATE REJECTED BIDEN’S PROPOSAL TO MAKE PEOPLE WITH GOOD CREDIT PAY MORE ON THEIR MORTGAGES TO SUBSIDIZE PEOPLE WITH BAD CREDIT WHO CAN’T GET A MORTGAGE OR MUST PAY HIGHER RATES. THIS IS TYPICAL OF PROGRESSIVES: SUBSIDIZE BAD BEHAVIOR THAT LEADS TO BAD CREDIT AND PENALIZE GOOD BEHAVIOR LEADING TO GOOD CREDIT.

    THIS THINKING WAS BEHIND THE HOUSING COLLAPSE DURING THE CLINTON ADMINISTRATION WHEN PEOPLE WHO COULDN’T AFFORD EXPENSIVE HOMES RECEIVED LOANS ANYWAY AND WHEN THEY WERE UNABLE TO PAY, THE BANKS FORECLOSED AND THE ECONOMY WAS SEVERELY AFECTED.

THE NEXT ELECTION CAN’T COME SOON ENOUGH. BUT WHO WILL DELIVER US? I’M CAL THOMAS.