Dems About To Enter Fiscal 2021 With No Budget Caps

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The Budget Control Act of 2011 is going to expire and Congress is about to spend next year with no budget caps, something that hasn’t happened in a decade. While the national debt has reached an all-time high, Democrats have been telling voters that they won’t stop spending if they win. 

With wide eyes and large pockets, Democrats have been eyeing out the November election for more than one reason. Congress is headed into a big-budget year, thanks in part to the trillion-dollar coronavirus stimulus, but now Dems have already talked about their plans to use every fiscal tool at their disposal to fund all government pet projects. They wouldn’t have to endure strict budget caps or operate under automatic spending cut threats. 

Congress is already looking to vote and set on borrowing trillions of dollars to cover its spending from the previous year. There would be no limits on overall total spending for defense and non-defense programs. The radical left doesn’t see any consequences with racking up the country’s debt, even though the national debt is over $27 trillion and a full 27% bigger than the size of the U.S economy. 

Joe Biden is also proposing to add an additional $5.4 trillion spending plan to invest in universal pre-K, tuition-free community college classes, expanding Obamacare, and working on Green New Deal policies.

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By using a fast-track budget reconciliation, the Democrats could dodge a Senate filibuster and pass massive bills with a simple majority in the Senate. This is the same way they passed Obamacare, which Republicans later used to repeal it in 2015.

Without budget restrictions, lawmakers will have to strategize the approach in overall totals for defense and non-defense spending next year. Those are set at $740.5 billion and $634.5 billion in fiscal 2021. 

Under a Trump Administration, we would see the appropriate budget caps to stop radical left politicians from funding all of their pet projects. Under a Biden Administration, we would see much more than another multi-trillion-dollar coronavirus relief package. That’s just the start.

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This has nothing to do with the election or the COVID-19 crisis. Instead, it's a huge, unstoppable stock market trend that was already creating millionaires before the pandemic hit.

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