Reaping the consequences

By William R. Strong

Oil City

A basic economic principle states no individual, business, corporation or nation can overspend itself into economic prosperity.

Government overspending occurs when expenditures exceed revenue. Nationsthat massively overspend ruin their economy, cause skyrocketing inflation, and trigger an economic decline.

Any nation that deliberately overspends when its economy has been crippled by statewide lockdowns commits economic suicide.

Under Trump, America had the greatest economy in our history.

The radical left Democratic Party and Joe Biden took control of our federal government and instantly began ramming their socialistic policies down everyone's throat.

They are engagedin the most massive overspending in U.S. history at $15 trillion.

People don't realize the size of one trillion. By analogy, a trillion seconds takes 31,709 years to expire. Fifteen trillion seconds takes 475,635 years.

When Biden took office, an unspent surplus of $1 trillion was left in the U.S. Treasury from the Trump stimulus package. There was no need for additional spending.

Biden and his cronies in Congress in just four months have spent the Trump surplus, rammed anadditional $1.9 trillion "rescue" package through, and are now trying to ram through a $2.2 trillion infrastructure package, a $4 trillion American Families and Jobs package, and a $6 trillion budget for $15 trillion in massive overspending.

Massiveoverspending can only be covered by massive printing of money.

This causes an enormous devaluation of the dollar. Sellers are forced to raise prices to offset this loss of dollar value. It is called inflation.

Under Biden, prices have soared; Examples: gas up 35 percent, some food prices up 50 percent, lumber up 232 percent.

The Consumer Price Index (CPI) that measures inflation has averaged approximately 1 percent per year. Last month, CPI went to an astronomical 7.2 percent. Rising prices make goods and services unaffordable, reducing demand thus triggering a depression with tremendous shortages.

Biden and his cronies in congress, with their massive overspending and printing of money in our crippled economy, are committing economic suicide for We the People.

In just four short months, they madefools of people who voted for them.

Stop the massive overspending.