Once again, Congress has blown past the end of the fiscal year without passing appropriations bills, thus setting up a government spending fight just before Christmas.
The defeated outgoing Democratic House majority is hoping some Hollywood-style flair will hide their true aim; namely, to stuff trillions of dollars in new spending down the throats of the American public.
There is, however, no need for such theatrics.
Congress can simply pass a short-term continuing resolution to extend current federal spending levels into early 2023. Extending funding levels into the new Congress would respect the voters and let the new House majority set spending levels.
As you’d imagine, the specter of a fiscally responsible Congress has alarmed the outgoing leftist majority. Since the election, Democrats have been feverishly trying to get their Christmas wish list omnibus spending bill passed and signed into law in the lame-duck session.
Never before has the outgoing defeated majority abused the lame-duck session to pass an omnibus bill. Shockingly, however, this time they seem to have an unlikely ally: Some of the Republican congressional leaders.
The Senate Republican leader, Sen. Mitch McConnell of Kentucky, has backed the idea of a lame-duck omnibus, indicating that “the four corners”—a reference to leadership of both major parties in both chambers of Congress—have been working together on such a bill.
That would be an insult to the American people, who voted the old majority out of office and rejected their modus operandi of using the force of government to take hard-earned dollars from American workers and give them to their donors and favored political and crony corporate interests.
Though many of the details of the proposed omnibus are murky, we know the deal includes yet another year of dramatic discretionary spending increases, despite dramatic hikes in spending over the past few years.
Since 2019, the annual level of discretionary spending has increased a whopping $384 billion. Discretionary spending has increased roughly twice as fast as the size of the economy in the past three years.
This, however, is only a fraction of what Congress has set in motion. Discretionary spending increases in one year ripple into much larger deficits over time. As such, this latest three-year binge will likely increase federal spending and deficits over the next decade by $4.9 trillion—$37,000 per household—with more than $620 billion of that in interest on the debt alone.
Even if a new omnibus slows the absurd rate of growth of nondefense discretionary spending, it won’t be enough to avoid fiscal catastrophe. A limited-growth omnibus would do nothing to mitigate the staggering recent increases in discretionary spending or their contribution to an interest-cost spiral.
At a time when most American families have struggled, dealing with the COVID-19 pandemic and a $7,400 inflation tax, Congress exacerbated their burdens by dramatically increasing spending. That has contributed to inflation and drained investment out of the hands of the private sector, further increasing consumer prices and stunting wages and economic growth.
Each dollar increase in the level of federal spending means an increased burden on the American public. These casual spending increases created pressure for the Fed to print trillions of dollars, devaluing your paycheck and savings, and raising prices at the pump and at grocery stores.
With the Fed now trying to rein in inflation, the massive volume of federal spending and deficits has led to crowding out, where the massive volume of government borrowing leaves less room for entrepreneurs to access lending markets to get the funding they need to grow.
That has slowed the building of new factories and businesses, and deepened the current recession.
What’s more, as funds dry up, it pushes interest rates sky-high. Over the past year, mortgage rates have more than doubled—meaning that, over the lifetime of a loan, a new mortgage on a median home will cost $300,000 more in interest than a similar mortgage just a year ago.
As Americans are being pummeled by the consequences of Congress’ reckless fiscal policy, Congress is planning yet another omnibus that increases discretionary spending.
Enough is enough. There is no need for such a careless and rushed omnibus. Conservatives in Congress could pass a short-term continuing resolution and carefully write new appropriations bills at the beginning of next year.
Conservatives should work to cut corrupt and wasteful programs to fund core constitutional responsibilities, such as national defense, and to actually reduce the deficit and lift fiscal and economic burdens off the backs of American families.
However, if Republican congressional leadership isn’t willing to do that and gives up its power, and instead works with Democrats to further the Democrats’ agenda, how would they be any different from the outgoing leftist majority, other than in name only?
Is this truly the reward the American people have earned for voting to flip control of the House?
Article cross-posted from Daily Signal.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
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