The party is over for debt-ridden America. Here’s how we’re bouncing back into the new year

Happy new year everyone!

Hope you had a wonderful New Year’s Eve party, whether you were out on the town or just sipping champagne at home with your loved one. Enjoy it – because it might be the last party you can afford for a while.

This week, the party is over.

We live with money borrowed for too long. No, we are not facing another financial meltdown in 2009. Banks and financial institutions are in much better shape today than they were then. But the government is not.

IF YOU “DREAM BIG”, 2023 MAY BE THE YEAR YOU’VE ALWAYS WANTED

Our national debt is huge – at $31 trillion it is now greater than our annual GDP. We used to laugh at countries that were caught in this impasse.

Of course, there’s a reason this happened. The extraordinary moment of the economic shutdown due to the pandemic created a unique crisis in which we had to spend a lot. But it was expected to be a temporary safety net for individuals and businesses.

Instead, the Biden administration has doubled spending to expand government in ways that are unsustainable — far beyond what the private economy can sustain. This has led to our high inflation and rising interest rates, both of which are causing enormous pain for families and businesses.

President Joe Biden walks to speak to reporters as he and first lady Jill Biden leave the White House on December 27, 2022.
(Anna Moneymaker)

And it looks like in 2023 we’ll be throwing an official recession into the mix of our misery index, especially since our irresponsible representatives just threw another $1.7 trillion on the fire.

IT’S 2023. REMEMBER GOD ALWAYS GIVES YOU A CHANCE TO START AGAIN

The massive, omnibus spending bill will likely force the Fed to keep interest rates high, which means a tougher recession than we had hoped. And of course, recessions mean job losses as businesses go bankrupt. Our historic moment of having far more jobs than people looking for work — which actually began under the Trump administration before the pandemic — may soon be over.

But enough pessimism. We’ve been through bad times before and we’ll get through them. It just takes determination – not from our politicians, most of whom lost their spines some time ago.

Resolve comes from a free people exercising their dreams and desires in a free economy to grow and support themselves and their families.

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This should be our New Year’s resolution: to keep our economy and our society as free as possible, so that we can rebuild, pay off our debts, and become strong and successful again.

It is an individual resolution and a national resolution that we should all take together. So raise your glass to freedom – long may she reign.

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