For the forthcoming fiscal year, U.S. Senate Democrats have proposed a $ 1.2 trillion omnibus investing bill that has the Republicans on the war path. The almost 2,000-page omnibus threatens to drown readers in verbiage. But what Senate Republicans found especially shocking are the 20,000-plus earmarks. What type of personal loans would the federal government need to take out to finance the deal? Source of article – $1 trillion-plus omnibus spending bill riles GOP senators by MoneyBlogNewz.
Too much in omnibus bill
The Republican party's stance on deficit spending is reflected in Sen. John Thune's (R-S.D.) response to the omnibus bill. While Senate Democrats insist the nearly $1.27 trillion price tag is necessary for the us government to run smoothly, Sen. Thune called the bill "reckless spending" and stated his party’s opinion that the bill shouldn’t even make it to the floor for a vote.
Info on omnibus
Pentagon would have $688 billion for spending with the bill, reports the Washington Post. On the domestic front, $43 billion would be set aside for the Department of Homeland Security, $10 billion would go to Border Patrol, and state and local police force agencies would receive $3.8 billion. There may be some benefits for college students too. About $25 billion would go to financial aid for students.
President Obama planned on getting $29 billion more in bill
President Obama's first request has been lowered by $29 billion with the omnibus. All experts looking at austerity actions said it was a bad idea although the omnibus plan would be keeping spending at the same level as the last fiscal year. If austerity methods don't start, then by 2035 the national debt can be triple what it is now. That is just 25 years to triple the $13.8 trillion deficit.
Both within the wrong without admitting it
Getting out of U.S. debt seems the most significant thing for citizens who feel like increasing deficit spending will be worse for the U.S. than better. Of course, Republicans were the ones who started this spending that isn't helping the country. If the United States government goes bankrupt, not only will pork projects fall by the wayside, so will the last shred of respect the American people might have for their elected officials.
Info from
College News
collegenews.com/index.php?/article/1_trillion_omnibus_spending_bill_03245909876/
Republicans on the omnibus war path
youtube.com/watch?v=M1zW_2uvR1U
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