January 1, CBO Flags Soaring Debt as Democrats Demand More Spending

Wyatt’s Take

• The Congressional Budget Office says last year’s interest on our debt hit over $1 trillion, a record high.
• Democrats want to keep hiking spending, including making Obamacare extras permanent, despite historic deficits.
• Spending cuts were one-offs, but cost hikes are baked in for things like Social Security, Medicare, and Medicaid.

The CBO’s look at last year’s budget tells us Uncle Sam keeps spending more money than he takes in. Interest payments on the national debt blew past $1 trillion for the first time, and Social Security, Medicare, and Medicaid costs shot up again.

Democrats are holding out for a permanent Obamacare subsidy boost as part of $1.5 trillion in more spending, even with ongoing massive deficits.

Most of last year’s spending cuts, like on student loans and bailout cash, were one-time deals that won’t last. Meanwhile, costs for things like veteran benefits and refundable tax credits keep rising every year.

“Interest — up by $80 billion (8 percent), mostly because the debt was larger than it was in fiscal year 2024.”

Congressional Democrats caused a shutdown just to try to force through another $350 billion in permanent health subsidies, even though reports call out fraud and growing costs. They’re adding to the debt and pushing more spending Americans can’t afford.

It’s time to tell Congress to stop running up the nation’s credit card. Enough of these endless handouts and backroom deals — let’s demand they balance the books like average families have to.

Wyatt Matters

Middle America knows how to live within its means. When politicians play games with our budget, it’s hardworking folks in the heartland who end up footing the bill.

Read more at The Federalist