Republicans’ Debt Limit Ideas Are Common Sense, Not ‘Wacko’

President Joe Biden, an old lawyer, responded to House Republicans’ debt limit bill last week by calling it full of “wacko notions.” But what seems “wacko” to Biden and the radical left sounds like common sense to much of America. The House Republicans’ debt limit bill may not balance the budget, but it would make a good start on fixing the fiscal train wreck that big spending by both parties in recent years has left for the next generation.

Let’s examine the major components of the legislation to see exactly what the left might object to.

What’s So ‘Wacko’ About These Ideas?

Lowering Spending: The bill would lower spending on the federal discretionary budget, which covers things like the military and most domestic programs, but not Medicare or Social Security, all the way back to the levels of the fiscal year that ended last Sept. 30. This “reduction” in spending comes after lawmakers ran up $4.8 trillion in new debt over the past two years alone.

Slowing the Rate of Growth: The bill would allow discretionary spending to grow at 1 percent for the coming decade. If ever there were a way for leftist politicians to get serious about fighting inflation, capping the growth of the federal government might be the perfect way to do so.

Prohibiting Student Loan Giveaways: The bill would take away the legally questionable authority of the president to enact his student “loan forgiveness” programs, which are currently pending in court. Only Congress should have the power to enact programs that could cost more than $1 trillion.

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