“Mathematically vacuous” - On the House floor this past Tuesday night, Rep. David Schweikert (R-AZ) issued an epic warning about the budget and debt.
From this 30-minute video here:
Well worth a watch. Note the almost completely empty House chamber.
“Mathematically vacuous” does not begin to describe the complete disconnect between politics and economic reality.
A few years ago, Democrat morons in the House had been promising and virtue signalling that hiring thousands of IRS tax collectors to target those earning more than 400,000 bucks z year would bring in somewhere between 300 billion and 700 billion bucks a year. After 2 years, the increase in revenue from all sources (not necessarily from tax collectors) had brought in a bit more than just ONE billion bucks.
Around 100 billion bucks LESS than the around 50-60 billion a year additional projection.
Oh, ad the IRS staff umbers were down 8% - so o net new hiring – less than one I three people calling the IRS could get someone to answer the phone!
The IRS is sitting on 57 billion bucks in unspent money authorised by the US – the proposal is to use similar technology to ChatGPT to help people fill out and pay the right amount of tax – at the IRS.
Schweikert also talks about broadband to the Nations at a fraction of the cost that has been squandered on providing no service at all – compared to simple solutions. Rather than subsidies that do nothing to deliver broadband. He also talks about insulin – using subsidies. There is generic insulin – sold cheaper than the 16 billion subsidies paid to big pharma (15-minute mark) that lowered the price of insulin made by big pharma. Subsidize expensive insulin rather than make eve cheaper generic insulin.
He also talks about helping with the fentanyl issue. Here’s a possible candidate.
One in seven dollars of federal spending is on debt interest. The Trust funds will be empty in seven years.
“Learn the damned math” he closed with after detailing how the amount of discretionary spending is being swamped by debt interest = meaning no-discretionary spending has to be cut soon – discretionary spending cuts means eliminating federal agencies, like the FBI, DoE etc.
Well worth a watch.
Onwards!!!
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A city full of complete assholes.
Rep. Scherweikerk definitely had the numbers and was spot on addressing this issue. Definitely some agencies need shut down completely; freebies need to stop, esp any handouts to illegals; immigration needs to be allowed for those who can contribute; and FBI, DOJ, and State Dept need curtailed in many of their wasteful and probably illegal efforts.