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February 3, 2021 Two data points explain the current debate in Washington on more rounds of COVID spending. The Biden administration’s repeated statements that “the risk is not…going too small, but…going not big enough” reflects a position Joe Biden publicly articulated while serving in the Obama administration a dozen years ago: As to the cumulative effects of these policies, the budget resolution itself tells the tale, with its projected estimates of the total national debt over the coming decade: (5) PUBLIC DEBT. Pursuant to section 4 301(a)(5) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)(5)), the appropriate levels of the public debt are as follows:

Purdue universityUnited statesEric cantorMitch danielsPaul ryanJoe bidenJohn boehnerWashington postOffice of managementSecurity trust fundsCongressional budget actSocial security trust fundsIndiana republicanMedicare benefitsUrban instituteMedicare is functionally insolvent