‘The American People Want A Real Change’: Steve Forbes Rebukes Both Parties For ‘Sinful’ Government Spending Habits | Eastern North Carolina Now | Steve Forbes, the chair of Forbes Media and editor-in-chief of Forbes Magazine, argued on Monday that Republicans have an addiction to government spending nearly as severe as their Democratic colleagues.

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    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Ben Zeisloft.

    Steve Forbes, the chair of Forbes Media and editor-in-chief of Forbes Magazine, argued on Monday that Republicans have an addiction to government spending nearly as severe as their Democratic colleagues.

    During an interview with Fox Business anchor Stuart Varney, Forbes - who ran for the Republican presidential nomination in 1996 and 2000 - debunked the claim that President Joe Biden is reducing the federal budget deficit. "They are spending and because the deficit's coming down because of inflation, kicking people into higher tax bracket, and they're not spending quite as much as they did during the COVID lockdowns, he thinks that that makes them non-spenders," he explained. "They are spending. The numbers are there."

    Indeed, the government is slated to collect roughly $5 trillion in nominal revenue from fiscal year 2022 - an increase from $4 trillion in fiscal year 2021, which was also a record amount, according to a recent analysis from the Tax Foundation. Federal collections are projected to reach 20.2% of gross domestic product, marking the highest level in modern history, during which collections have averaged 17.2% of economic output.

    Meanwhile, the White House has repeatedly contended that its first budget proposal "cut the federal deficit" - the difference between government spending and government revenue - by $350 billion, while officials say that the second budget proposal will reduce spending by $1.3 trillion. The administration has failed to note that deficit spending reached record highs over the past two years because of stimulus packages meant to combat the economic fallout from the lockdown-induced recession.

    Forbes also rebuked Republicans for claiming to be budget hawks while likewise spending irresponsibly - albeit to a less severe degree than their political rivals. "Their only virtue is saying, 'We're not as big of spenders as the Democrats.' They're still sinful, small sins, but they're still sinning," he argued. "That's why I think the American people want a real change after November... when pork is in the air, the smell entices even supposedly conservative Republicans."

    Although President Barack Obama maintained budget deficits as large as $1.4 trillion during his first term, President Donald Trump ran a deficit nearing $1 trillion in 2019 - the year before the deficit surged to $3.1 trillion as a result of stimulus spending, according to data from the Office of Management and Budget. The national debt reached nearly $30.6 trillion by the second quarter of 2022, according to data from the Treasury Department.

    Forbes noted that the CHIPS Act and the Bipartisan Infrastructure Law could not have passed without support from Republican lawmakers. The former package spent $52.7 billion to subsidize computer chip production and combat supply-driven inflationary pressures, while the latter spent $1.2 trillion on new infrastructure projects - including initiatives for electric vehicles, clean energy, urban transport, and public railways.

    After two months in office, Biden signed the $1.9 trillion American Rescue Plan, which included $1,400 relief payments for those who met the qualifications and an extension of $300 weekly enhanced federal unemployment insurance. Though evidence suggests that the unemployment handouts worsened labor shortages and therefore contributed to higher inflation, Biden claimed that the bill "took America from an economic crisis to an economic recovery."

poll#166
With the Midterm Elections less than one week away: What do you consider the top issues that you will be voting on to be corrected by your better representation?
  Education
  Crime
  Big Government getting Bigger
  Biden /Democrat controlled Spike in Energy Cost
  Inflation created by Legislation of Majority in Power
  Gender Reassignment
  Corrupted Bureaucratic /Service (DOJ, FBI, etc.) Institutions
  Abortion
  Discredited Legacy Media
  Ending the Corruption of Dishonest Politicians
  Corruptive Influence of Social Media
  Wide Open Southern Border
189 total vote(s)     What's your Opinion?


poll#154
Inarguably, the policies of the Democrats in congress and Joe Biden as the Executive is plunging the United States into a recession, if we are not already there; a recession that was completely avoidable. Will abrupt changes in policies occur in time?
  Yes, the Democrats have a bold plan, yet to be revealed, to save us.
  No, there will have to be a complete undoing of the damage done by these Democrats.
  I can't do simple math, so how am I to understand the concept of basic economics.
1,181 total vote(s)     What's your Opinion?


poll#164
It has been far too many years since the Woke theology interlaced its canons within the fabric of the Indoctrination Realm, so it is nigh time to ask: Does this Representative Republic continue, as a functioning society of a self-governed people, by contending with the unusual, self absorbed dictates of the Woke, and their vast array of Victimhood scenarios?
  Yes, the Religion of Woke must continue; there are so many groups of underprivileged, underserved, a direct result of unrelenting Inequity; they deserve everything.
  No; the Woke fools must be toppled from their self-anointed pedestal; a functioning society of a good Constitutional people cannot withstand this level of "existential" favoritism as it exists now.
  I just observe; with this thoughtful observation: What will happen "when the Vikings are breeching our walls;" how do the Woke react?
338 total vote(s)     What's your Opinion?

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