As the US continues to battle the pandemic, the Democrats have unveiled a plan that is alarming to many. According to Steve Bannon’s War Room: Pandemic, the plan is set to increase the national debt by over $33 trillion with no strategic way out of the catastrophe.
The plan that will inevitably lead to a massive increase in the national debt is centered on the Democrats’ proposed infrastructure bill. The bill, which is currently being debated in Congress, is a mammoth $2.7 trillion package aimed at rebuilding and modernizing America’s infrastructure in the wake of the pandemic.
While the plan may seem noble on paper, the issue at hand is the sheer amount of spending proposed. The Democrats have nothing to show for how they plan to pay for the massive spending spree, leading many to believe that it will only lead to an increase in borrowing and the national debt.
To put the projected $33 trillion figure into perspective, it equates to over 150% of the US’s current GDP. To make matters worse, experts warn that an increase this massive is unsustainable and could have dire consequences for the economy.
The situation is not helped by the fact that the Democrats have no clear strategy for how to get out of the predicted catastrophe. Critics of the infrastructure bill argue that it does not allocate enough resources to generate new revenue streams, and that any efforts to do so will likely lead to more borrowing and debt.
The proposed plan also lacks a focus on long-term planning and sustainability. Bannon points out that the Democrats are more focused on giving out handouts and bailouts than investing in the future of the nation.
To make matters worse, the current political climate is not conducive to finding common-sense solutions for the country’s most pressing issues. The divisiveness and political maneuvering within the parties have made it difficult for the policymakers to come together and create plans for the greater good of the nation.
In conclusion, the Democrats’ plan to increase the national debt by over $33 trillion with no strategic way out of the catastrophe is alarming at best, and catastrophic at worst. With no clear roadmap to pay for the proposed infrastructure bill, the skyrocketing national debt will only lead to economic instability and further harm the future of our country. It is essential that policymakers work together in a cooperative and transparent manner to find solutions that are sustainable and prioritize the long-term growth of the economy.