U.S. 7th District Rep. Michelle Fischbach, R-Paynesville, is absolutely and positively wrong to tie negotiations on federal budget spending cuts to increasing the federal debt ceiling. The debt ceiling must be increased to pay for programs Congress has already approved.
Rep. Fischbach and other Republicans in Congress cannot deny that Congress avoided default and increased the debt ceiling three times under the previous White House occupant, Donald Trump, to pay for massive tax cuts that benefitted billionaires, drove up the debt significantly, but never helped the economy and average Americans like me.
However, during his first two years in office, President Joe Biden reduced the debt by an unprecedented $1.7 trillion.
President Biden's budget has $3 trillion in cuts that House Republicans oppose because these cuts end benefits for corporations and the wealthy. Biden’s budget saves the country $200 billion by permitting Medicare to negotiate drug prices with pharmaceutical companies, and cuts $30 billion in tax subsidies for oil companies, which made $200 billion in profits last year.
President Biden’s budget also funds the Internal Revenue Service to enable it to stop tax cheats; the Congressional Budget Office says that will raise $200 billion. Biden also wants to increase the number of inspectors general in the government to watch how money is spent, citing estimates that each dollar spent on inspectors general saves $10 in wasteful spending.
ADVERTISEMENT
The Republican plan would cut all of these measures, making suspect Republican claims that they want to address the deficit. President Biden says, and average Americans like me agree, that the wealthiest Americans and corporations must pay some of their fair share.
David Little
Willmar
The Trust Project
