From WSJopinion: Senate Republicans have a clear-cut opportunity to curtail federal spending. If they again refuse to exercise that power, what makes anyone think they will do so next year or the year after? ask StephenMoore and Matthew Dickerson.
Republicans will take control of the House in January with grand promises to bring federal spending under control. There isn’t a moment to lose—and Senate Republicans can act now to prevent spending growth. Under President Biden’s policies, more than $4.1 trillion of new spending has been approved—roughly the amount, in real terms, that was spent to win World War II. This spending and debt blowout was the ignition switch that generated 8% inflation this year.
In the wake of the election, Senate Republicans are negotiating another omnibus spending bill of almost $2 trillion. It contains no program cuts. At the same time, House Republicans have decided they want to bring back earmarks for projects like Alaska’s notorious “bridge to nowhere.” This is setting the stage for both a fiscal policy and political debacle.
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