{"id":1756941,"date":"2022-11-30T11:59:47","date_gmt":"2022-11-30T16:59:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1756941"},"modified":"2022-11-30T12:03:52","modified_gmt":"2022-11-30T17:03:52","slug":"gary-goldman-time-for-congress-to-focus-on-spending-priorities","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gary-goldman-time-for-congress-to-focus-on-spending-priorities\/","title":{"rendered":"Gary Goldman: Time for Congress to Focus on Spending Priorities"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgary-goldman-time-for-congress-to-focus-on-spending-priorities%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1756941&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/article_test-1.jpeg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<div class=\"advertisment pb-5 text-center\"><\/div>\n<div class=\"row\">\n<div class=\"col\">\n<div class=\"advertisment pb-5 text-center\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>                The American people have spoken, and the message is clear. Congress needs to start the process of cutting spending by the federal government and getting the economy back on track. It appears that Republicans have taken the power of the purse in the House of Representatives from the Democrats, and they now need to get serious about spending.<\/p>\n<p>It is important to note that, despite the misinformation being promoted by advocates for big government, the federal government is the only entity that can increase inflation. It follows that only the government can solve inflation.<\/p>\n<p>The federal government needs to stop spending more than it has. The <a href=\"https:\/\/www.mercatus.org\/publications\/monetary-policy\/what-would-milton-friedman-say-about-recent-surge-money-growth\" target=\"_blank\" rel=\"noopener\">Mercatus Center<\/a> at George Mason University quoted famed economist Milton Friedman as arguing in Newsweek in October of 1977, \u201cThere is one and only one basic cause of inflation: too high a rate of growth in the quantity of money\u2014too much money chasing the available supply of goods and services. These days, that cause is produced in Washington, proximately, by the Federal Reserve System, which determines what happens to the quantity of money; ultimately, by the political and other pressures impinging on the System, of which the most important are the pressures to create money in order to pay for exploding Federal spending and in order to promote the goal of \u2018full employment.\u2019\u201d Friedman makes the point that politicians blaming business owners, consumers, or OPEC are blaming the consequences of inflation as a cause of inflation. Many times, politicians will scapegoat big business or foreign affairs to shift blame away from themselves.<\/p>\n<p>The bottom line is that inflation is caused by government printing more money to pay for government spending money it does not have. Inflation should not be a shock after the federal spending we have experienced over the past few years. The <a href=\"https:\/\/www.cbo.gov\/publication\/58493\" target=\"_blank\" rel=\"noopener\">Congressional Budget Office<\/a> (CBO) reports that the deficit for FY 2022 was $1.4 trillion followed by FY 2021\u2019s deficit of $2.8 trillion. Over the past two years, our federal government has spent $4.2 trillion that it doesn\u2019t have. Massive debt incurred over the past few years and a Federal Reserve finding ways to create new cash has caused inflation. Voters want the new leaders in Washington to take action to slow inflation to a stop.<\/p>\n<p>One way to find cuts to spending is to look for big projects that are not doing well. Over at the Pentagon, the F-35 program seems like a good starting point. For starters, the F-35 Joint Strike Fighter (JSF) program is expected to cost the taxpayer over <a href=\"https:\/\/thehill.com\/blogs\/congress-blog\/economy-budget\/550601-f-35-program-embodies-the-problems-with-defense\/\" target=\"_blank\" rel=\"noopener\">$1.7 trillion<\/a> over its lifetime. Dan Grazier wrote at <a href=\"https:\/\/thehill.com\/blogs\/congress-blog\/economy-budget\/550601-f-35-program-embodies-the-problems-with-defense\/\" target=\"_blank\" rel=\"noopener\">The Hill<\/a> on April 27, 2021, \u201cTwenty years in development \u2014 and it still can\u2019t shoot straight and is\u00a0rarely ready to fly when it is needed.\u201d He argues that it was marketed as \u201ca purportedly low-cost plane intended to serve the needs of all military branches,\u201d yet it has turned out to be a \u201ccolossal boondoggle\u201d for taxpayers. At a time when Congress does not hesitate to spend billions to help the war effort in Ukraine, they seem horrified to find billions in cuts to other programs to pay for this new spending.<\/p>\n<p>Another opportunity to restore some confidence on the part of taxpayers towards the federal government would be to be more pro-business. Instead of finding new ways to tax businesses, in addition to blaming them for increased gas prices, it might be a good time to find ways to encourage American businesses to hire and expand.\u00a0<\/p>\n<p>The bottom line is that the American people may have mixed feelings about Republicans versus Democrats, yet they have no mixed feelings about inflation. They want the federal government to stop inflation and to stop spending money we don\u2019t have.<\/p>\n<p><b><i>Gary\u00a0S.\u00a0Goldman\u00a0is the nationally recognized host of \u201cBusiness, Politics, &#038; Lifestyles\u201d a weekly talk show airing on WPRO in Providence RI. Learn more at\u00a0<\/i><\/b><a href=\"http:\/\/garyonbpl.com\/\" target=\"_blank\" rel=\"noopener\"><b><i>garyonbpl.com<\/i><\/b><\/a><b><i>.\u00a0<\/i><\/b>\u00a0\u00a0<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American people have spoken, and the message is clear. Congress needs to start the process of cutting spending by the federal<\/p>\n","protected":false},"author":1,"featured_media":1756944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1756941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1756941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1756941"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1756941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1756944"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1756941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1756941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1756941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}