ICYMI
ICYMI: The Need for a Bipartisan Debt Commission
The Washington Examiner highlighted support from Budget Committee Chairman Jodey Arrington (R-TX) of Speaker Mike Johnson’s call for a fiscal debt commission. In his opening speech after being elected Speaker, Johnson called on the creation of a commission to address “our greatest threat to national security.” Word on the Street: Via the Washington Examiner: “Rep. Jodey Arrington (R-TX) is chairman of the House Budget Committee, which would likely be closely involved in the formation of … Continue Reading
November 06, 2023
ICYMI: House Budget Chairman Arrington Presses Biden Administration Over Wasteful Border Spending
Last week, Chairman Jodey Arrington (R-TX) sent a follow-up letter to the Department of Homeland Security Secretary (DHS) Alejandro Mayorkas demanding answers about how congressionally appropriated funds for the border wall are being used. The letter, first reported by the Daily Caller, calls for transparency on President Biden’s border policies. Word on the Street via the Daily Caller: "The Daily Caller first obtained a copy of the letter, which calls for specific answers to several … Continue Reading
November 01, 2023
ICYMI: House Republicans Demand Transparency on Ukraine Funds
House Budget Committee Chairman Jodey Arrington (R-TX) and Congressman Jack Bergman (R-MI) directed a letter, first reported by Fox Digital, to Office of Management and Budget (OMB) Director Shalanda Young demanding transparency of all funds sent to Ukraine for its war against Russia. Word on the Street via Fox News: "’It has now been over 20 months since Russia invaded Ukraine. Congress has provided $114 billion in supplemental appropriations - not including potentially billions in … Continue Reading
October 27, 2023
ICYMI: House Budget Committee Health Care Task Force Makes Waves with Roundtable Discussion
The House Budget Committee Health Care Task Force (HCTF) held an important roundtable discussion this week where Task Force Members, led by HCTF Chairman Michael Burgess M.D. (R-TX), evaluated how the Congressional Budget Office (CBO) analyzes the impact of federal price controls on medical innovation. Many experts at the session raised serious concerns about CBO’s conclusions and warned that price controls contained in the Inflation Reduction Act would drastically slow the development of and … Continue Reading
October 27, 2023
ICYMI: The Cost-of-Living Crisis is Here to Stay - Home Foreclosures Increased 34% Nationwide
The far-reaching detriment of Bidenomics continues to plague American homeowners as many “continue to grapple with the ongoing cost-of-living crisis,” says FoxBusiness.com in a report highlighting the terrifying uptick in home foreclosures. Word on the Street: Via Fox Business News: “Foreclosures are up 34% from the same time one year ago.” “The report also indicated that there were 37,679 properties with foreclosure filings in September—up 11% from the previous month and up 18% from … Continue Reading
October 25, 2023
ICYMI: Mortgage Applications Crash to Three Decade Low
Under President Biden, home ownership is becoming less and less accessible for middle class Americans as interest rates continue to soar. A recent report from the Mortgage Bankers Association shows mortgage applications fell 6.9 percent last week to the lowest level since 1995. According to Reuters analysis of the report, “The volume of U.S. mortgage applications plummeted to the lowest in nearly three decades last week as the interest rate on the most popular type of home loan rose for a … Continue Reading
October 24, 2023
ICYMI: Interest on the Debt is a Ticking Time Bomb
Interest rates are growing rapidly, and American families are paying the price. Interest payments on the debt are adding up and absorbing recourses that could be spent on programs Americans rely on, including border security, national security, and healthcare. Raised rates are also adding to the already out-of-control debt that’s driving up inflation for the goods and services Americans rely on. A recent Washington Post article lays out how the debt is a ticking time bomb and sounds the alarm … Continue Reading
October 23, 2023
NOT-SO-HAPPY ANNIVERSARY: Forty-two years ago today, the national debt crosses the $1 trillion mark
On October 23, 1981, America’s national debt crossed the $1 trillion mark. It was an unprecedented, staggering, and earth-shattering figure. President Reagan was merely nine months into his presidency, presiding over an economy in turmoil after years of the reckless “reluctant Keynesian” economic policies of the preceding Carter Administration. Unhinged government spending and out-of-control money printing caused inflation to skyrocket and the U.S. dollar to crash, putting the prosperity of … Continue Reading
October 23, 2023
Bidenomics Doesn’t Discriminate: Americans From All Walks of Life Suffering in Biden’s America
Poll after poll has shown just how unpopular Bidenomics is with the American people as they continue to suffer a cost-of-living crisis due to the failed economic policies of the Biden Administration. A recent Wall Street Journal editorial lays out how these failed policies are disproportionately hurting minority communities - mainly Black and Hispanic communities - and diminishing their paths to reaching the American Dream. Word on the Street: · “Voters in swing states disapprove of … Continue Reading
October 20, 2023
The Pressing Need to Empower a Fiscal Commission
In the face of a surmounting fiscal crisis in America, calls are increasing for Congress to empower a fiscal commission—but not just any commission will do the trick, argues The Debt Dispatch. Many commissions have failed in the past because they are all talk and no action, and today’s debt crisis requires immediate action to reverse the curse, before it bankrupts future generations of Americans out of the liberties that make our nation exceptional. Word on the Street (via The Debt … Continue Reading
October 17, 2023
ICYMI: The Canary in the Coal Mine - Weak Demand for Treasuries
Due to President Biden’s blowout spending and lack of seriousness about deficits and the debt, concern about our nation’s fiscal trajectory is now at the forefront. That concern is affecting treasury markets, where fewer market participants are willing to purchase treasuries, sending yields skyrocketing. Word on the Street (via Markets Insider): “A string of recent Treasury bond auctions saw a major slump in investor demand, and that could be a harbinger of a trend that sends yields … Continue Reading
October 16, 2023
ICYMI: Chairman Arrington’s Budget Blueprint Will Bust Big Government Bloat
Chairman Arrington and House Budget Republicans have a plan to Reverse the Curse of America’s out-of-control spending and unsustainable federal debt - and it’s got people talking! This week, the Citizens Against Government Waste published an oped in the Washington Examiner breaking down how the Budget Committee’s FY24-FY33 Reverse the Curse budget blueprint will, as they put it, “get us out of the spending hole.” Word On The Street: (via Washington Examiner): “Today, taxpayers owe a … Continue Reading
October 12, 2023
ICYMI: Eat, Sleep, Spend—FY2023 Deficit Adds Trillions to the Debt
The FY2023 deficit is bad and only getting worse. Today, the Wall Street Journal sounded the alarm on skyrocketing year over year spending increases that are adding trillions of dollars to America’s already out-of-control debt and driving up interest rates. Two of the main culprits of our unsustainable deficits are lower tax revenues due to President Biden’s failed economic policies and higher interest expenses caused by Bidenomics. Word on the Street (via Wall Street Journal): “The … Continue Reading
October 11, 2023
ICYMI: Debunking Drug Price Myths
The Wall Street Journal sets the record straight surrounding the dangerous and reckless socialist prescription drug price controls in President Biden and Democrats' "Inflation Reduction Act" (IRA).The House Budget Committee Health Care Task Force has been leading the way in highlighting the dire consequences of the Democrats' drug price control scheme on patients and tax payers.Health Care Task Force Chair Michael Burgess M.D. (R-TX) issued the following statement on the impact of IRA drug … Continue Reading
October 06, 2023
ICYMI: Out-of-Control Deficits are Threatening U.S. Financial Stability
The threat of the debt is catching up to us—the consequences are dire. “The U.S. has long been the lender of last resort to the world. During the emerging-market panics of the 1990s, the global financial crisis of 2007-09 and the pandemic shutdown of 2020, it was the Treasury’s unmatched capacity to borrow that came to the rescue." "Now, the Treasury itself is a source of risk. No, the U.S. isn’t about to default or fail to sell enough bonds at its next auction. But the scale and upward … Continue Reading
October 05, 2023
ROAD TO MAYHEM: BIDEN'S RECKLESS STUDENT LOAN CANCELLATION OBSESSION
President Biden won’t take no for an answer when it comes to his multi-billion-dollar student loan debt forgiveness schemes. Just four months after his first student debt forgiveness scheme was found unconstitutional by the U.S. Supreme Court, yesterday, the President announced he would cancel an additional $9 billion in student debt for 125,000 borrowers. The President is determined to do whatever it takes to put the education of the upper class on the tab of middle- and … Continue Reading
September 29, 2023
INFLATION HERE TO STAY: Budget Chairman Arrington Reacts to New PCEPI Report
House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement today on the Bureau of Economic Analysis’s (BEA) August report on personal consumption expenditures price index (PCEPI) - the Fed’s preferred measure of inflation. The report showed that topline inflation has steadily increased for the third consecutive month, resulting in cumulative PCEPI inflation of 14.0% since President Biden took office. “Our small businesses and employers are feeling the brunt of … Continue Reading
September 28, 2023
ICYMI: Chairman Arrington Joins The Claman Countdown
Today, Chairman Jodey Arrington (R-TX) joined the Claman Countdown on Fox Business to discuss the latest developments regarding the impending government shutdown. Arrington discusses the complexities of the issue within the House Republican Conference and underscores the importance of reforming how Washington taxes and spends our taxpayers’ money. Arrington on the Shutdown: “Republicans have an opportunity to use the power of the purse and work together on an internal Republican compromise … Continue Reading
September 27, 2023
ICYMI: Americans Feel the Sting from the Fed’s Rate Hikes
Over the past two years, Democrats have financed their radical agenda and vast expansion of the federal government with an unprecedented $11 trillion in spending. This led to an inflationary firestorm that caused the Federal Reserve to raise interest rates at a rapid pace. Now, according to an article in the Wall Street Journal, Americans looking to purchase homes or vehicles are feeling the pain in tangible ways. Highlights from the Article: “Purchasing a home or car right now is … Continue Reading
September 22, 2023
ICYMI: House Budget Panel Republicans Deliver Plan to Tackle $33T Debt.
By: David Ditch September 21, 2023 The federal government reached an ominous milestone Sept. 15 as the gross national debt exceeded $33 trillion—or more than $57,000 per household. The debt increased by $1.5 trillion in just 15 weeks due to rising spending and declining revenue. That’s understandably concerning, especially at a time of rising interest rates and elevated inflation. Higher interest rates on a growing debt have caused a hard spike in federal interest payments, eating … Continue Reading
