In order to avoid another embarrassing shut-down, President Donald Trump signed an omnibus spending bill that he’d threatened to veto – at a price of $1.3 trillion of taxpayers’ money and devastating the deficit.
According to Fox News, President Trump signed the bill, despite its lack of border wall funding and a fix for DACA in order to to secure a necessary increase in military spending,
“Therefore, as a matter of national security, I’ve signed this omnibus budget bill. There are a lot of things I’m unhappy about in this bill…But I say to Congress, I will never sign another bill like this again. I’m not going to do it again,” President Trump said in a press call.
According to the Heritage Foundation, the omnibus bill blows out discretionary funding by $143 billion above the original Budget Control Act caps and then factoring in the Overseas Contingency Operations (OCO),the total swells to $1.3 trillion.
Director of the Roe Institute for Economic Policy Studies and former White House Director of Budget Policy, Paul Winfree predicted the bill would be a ‘disaster’
“Once again, Congress has missed an opportunity to reduce the size of the federal government and get the federal budget back on track, he said, ”the spending increases laid out by the Bipartisan Budget Act of 2018 represent a maximum amount that Congress can spend, not a spending goal for which it should aim.”
“The omnibus spending package that Congress plans to introduce this evening is a complete betrayal. Congress has repeatedly promised to fix the spending problem in Washington, but this bill promises trillion dollar deficits as far as the eye can see.”
Other conservative commentators are incensed at the new bill. Laura Ingraham said on her Fox show that now is no time for “business as usual” in Washington DC.
“The American people did not elect Trump, or the GOP Congress, to fill the swamp. We elected them to drain it. And the fact that the military contractors, the lobbyists are clinking champagne glasses at Washington steakhouses tonight should concern everyone.”
Another commentator, Steve Hilton said this goes entirely opposite to Trump’s “drain the swamp” rhetoric on the campaign trail.
“(This) fiscally incontinent and democratically illegitimate $1.3 trillion omnibus spending bill showed that the Swamp is not being drained but steadily refilled.”
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Categories:
US Economic News, US Government Waste Tags:
government spending, u.s. economy, united states economy
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