Fiscal and Economic
More on Fiscal and Economic
June 3, 2021 Columns
When the Democrats passed Mr. Biden’s $1.9 trillion spending spree in March, a lot of people got a lot of free money – thousands of dollars in many cases. But the bill is already coming due for that free money, and, as many of us warned, it turns out that free money is very expensive. Indeed, it turns out that the very same families most harmed by the lockdowns will be the most harmed by paying the bill for the lockdown relief. It comes to about $15,000 for an average family and the first installment is already reflected in the rising inflation sapping the purchasing power of working families.
Washington, D.C.- Representative McClintock was honored by National Taxpayers Union (NTU) for having one of the strongest voting records in Washington, D.C. for supporting limited government, economic freedom, and low taxes. This year Representative McClintock ranked #1 on NTU’s House scorecard and he is one of only 33 House members to have earned the “Taxpayers’ Friend Award” for his outstanding voting record during the 2020 Congressional session.
March 19, 2021 Speeches
This bill is just the first taste of the bitter brew concocted by the those who pushed through $1.9 trillion of pure deficit spending last week.
March 10, 2021 Speeches
One thing all sides agree on: this is the most liberal bill ever passed by Congress. But beware: there’s no such thing as free money. ALL OF IT must be borrowed from the same capital pool that would otherwise be available as loans to consumers, homebuyers, and small businesses. And it will be repaid entirely from YOUR future earnings in the years ahead.
February 3, 2021 Speeches
Two Trillion dollars in revenues. Six trillion dollars in spending. This is madness. This is how countries commit fiscal suicide: force the economy to shut down and then hand out government checks. The problem, of course, is that government does not finance the economy. It is the economy that finances the government. And when you wantonly destroy millions of jobs by forcing small businesses to shutter, by cancelling construction and energy production across the country; when you flood the labor market with millions of illegal immigrants (all at a time when millions of Americans are out of work), you shut down the economy and you shut down the tax revenues that the economy produces and that the government spends.
December 28, 2020 Speeches
Let’s get this straight: the small shopkeeper who’s just lost their entire savings because of the lockdowns will get the same $2,000 grant as the government bureaucrat who’s been enjoying a steady paycheck at home for the past ten months...
September 22, 2020 Vote Notes on Legislation
Just how long is the road we keep kicking this can down? This is another continuing resolution that extends federal spending until December 11, 2020, in order to get past the election. It’s a good bet we’ll see another one to get past the inauguration. And then to get past summer recess. What’s not a good bet is that this Congress will deal with the horrendous deficit it has created by ignoring its budget responsibilities.
March 24, 2020 Columns
The anguish in people’s voices as they call our office every day is heart-breaking. Many are wondering how they can pay their bills, whether their job will still exist in a week, whether their retirement savings have been decimated or whether they’ll lose the shop they’ve spent their lifetimes and life savings to build.
December 19, 2019 Vote Notes on Legislation
This bill trades a temporary tax reduction for a permanent tax increase...
December 17, 2019 Vote Notes on Legislation
These bills guarantee a $1 trillion-plus budget deficit for the current year, which moves our nation much closer to a debt crisis in the near future. Think of it as $8,000 added to an average family’s credit card debt. I have a long list of policy objections to both bills, but my biggest concern is the cumulative damage that trillion-dollar deficits are creating for our nation. These bills would increase our debt trajectory ANOTHER $600 billion above what we’re currently projecting for the next decade. This is simply unsustainable and courts a debt spiral as the capital market begins to question our ability to confront it. The bi-partisan support for this bill is an urgent warning that neither party seems interested in even TRYING to address our looming debt crisis. Even the booming Trump economy can’t compensate for the long-term damage this collapse of fiscal discipline is creating for our country dead ahead and evokes Madame de Pompadour’s concession, “apres nous, le deluge.”