Fiscal hawks on Capitol Hill are sounding the alarm over the recently agreed to budget deal between the White House and Congress.
Indiana’s Republican Senator Mike Braun voiced his opposition to the deal Tuesday, particularly mentioning its effects on the deficit.
He pointed out that when families and businesses overspend, they make cuts to offset their expenditures. However, when the federal government overspends, they change the rules in order to spend more.
Braun essentially said the government merely kicks the can down the road and shifts the burden on to future generations.
“And here we are, $22 trillion in debt, trillion dollar deficits and we’ve got this abomination coming across — it’s sad,” said the Indiana senator. “And I think the American public need to really pay attention here because this is different now, $22 trillion of debt, than what it was a decade ago or even three, four years ago or even when President Trump came in — this tells you how this place is going to run.”
The deal will increase spending caps by $320 billion, while suspending the debt ceiling and allowing government borrowing until July 2021. The set date is notably after the next presidential election.