DC SWAMP IS THE TYPICAL BANKRUPTCY DEBTOR

Biden: No Spending Caps, I Want To Spend, Spend, Spend America Into Bankruptcy

At his meeting Tuesday with Speaker McCarthy the only thing Biden was willing to do was “turn it over to his staff.” Thus, he admitted that his dementia was too far gone for him to understand the “Limit, Save, Grow Act of 2023,”  which he had received three weeks earlier. His handlers want the USA to go into default on its massive debt so they can dishonestly blame the Republicans, hoping 2024 voters are stupid enough to believe yet another false narrative.

This retired bankruptcy attorney is becoming bald listening to the asinine excuses put forth by various creatures who populate the DC Swamp:  Raise the debt limit, raise the debt limit, they screech!  These greedy grifters sound like many of my former bankruptcy clients.  There are two differences between DC Swamp creatures and my clients: 1) My clients were spending & wasting THEIR OWN MONEY. The DC grifters are spending & wasting YOUR money.  2) My clients’ income was not unlimited but the grasping DC creatures believe they are entitled to suck Americans dry of not only their income but their savings/wealth.

I practiced bankruptcy law for 32 years, 1987 to 2019.  The scenario of living above one’s means goes something like this:

BIDEN’S MARXIST SPENDING MIRRORS BANKRUPTCY DEBTORS’ SPENDING

Regardless one’s income level, it is possible to spend beyond one’s means, and that is certainly what the grifters in DC have been doing for decades.  This overspending has become increasingly dangerous in recent years, but is currently on steroids under Biden’s mad Marxist spending & wasting programs. 

Properly completed, my bankruptcy intake form showed the amount & source of the debtors’ income, living expenses, and debts & monthly debt payments.  It never ceased to amaze me the various ways that people found to bury themselves in debt, debt they could never hope to pay off and, in most cases, did not need.

I had clients who owned two, three or four newer cars, all with loans.  I also had clients who owned more cars than there were drivers in the household, all with loans.  Indeed, some clients would drive into our parking lot in a brand new relatively expensive car (via a car loan).  We had a running joke in my office: debtors had cars worth more than the cars owned by myself and my staff.

Some debtors continually refinanced their homes as increases in market value increased their homes’ values.  Like children, they spent the refi money on adult toys, vacations, and other frivolities.  I had clients who had RVs, ATVs, timeshare vacation homes, and various other non-necessities, all with loans attached.

Debt financed these clients’ lifestyles.  The American taxpayers are financing DC grifters’ lifestyles.

DEBT PROBLEMS ARE SOMEONE ELSE’S FAULT  

When I talked to debtors most would not admit that they were spending beyond their means. Sounds like Biden and DC Swamp creatures, doesn’t it?  They wanted to keep their toys and lifestyle, AND get rid of the debt. 

Some blamed creditors or one creditor.  I still remember one man who blamed his boss.  He and his wife had a very good income, but they owned two houses with mortgages and three cars with loans before buying a classic truck.  Prior to the latest purchase, their budget was upside down.  There was no room left to service ANOTHER debt.  Nevertheless, the husband bought a classic truck from his boss and signed a note.

When the husband arrived at my office, he was hopping mad at his boss because his boss expected him to make timely payments on the private note he had signed. [Sounds like Biden-I cannot wait for his next temper tantrum.]  The boss refused to let him keep the truck unless he made his payments. [I hope McCarthy has a backbone like his boss.]  Since the husband did not want to quit his job and he wanted to keep the truck (which he did not need) he was between a rock and a hard place.  He insisted that he had NO debt problems until his boss “caused” this debt emergency.  He would not even consider giving up one of his other cars and the attendant debt in order to afford the truck payments.

“IT IS ALL MAGA REPUBLICANS’ FAULT”

This debtor’s attitude is the attitude held by Biden and the DC Swamp which he has marinated in since he had natural hair on his head and since this writer was a gorgeous college student.  HINT: That was a LONG time ago.

Biden’s mouth piece made it really clear during Tuesday morning’s press conference: “NO SPENDING CAPS,” they would not even consider the House GOP’s very modest spending cuts in exchange for a small debt ceiling increase, named the “Limit, Save, Grow Act of 2023.” 

Biden refused to budge during their Tuesday afternoon meeting, after waiting 100 days before meeting with House Speaker Kevin McCarthy to discuss the debt ceiling.    

Three weeks ago, House Speaker Kevin McCarthy moved to end the standoff with Biden over federal spending by proposing to let the US borrow either another $1.5 trillion or until March 31, 2024, whichever comes first.  In exchange, discretionary spending for non-defense programs would be reduced to fiscal year 2022 levels and growth of future expenditures would be limited to 1% per year for the next decade.

The proposal would also reclaim roughly $100 billion in unspent COVID aid and claw back another $70 billion from IRS funding that was approved in the Inflation Reduction Act Biden signed into law last year.  McCarthy said the GOP bill would also “end the green giveaways” included in the falsely named “inflation reduction act” which amounted to $1.2 trillion, according a recent Goldman Sachs assessment.

The proposal would also block Biden’s $400 billion student debt cancellation plan, which is currently being considered by the Supreme Court, and demand more federal work requirements for benefit programs though McCarthy did not specify which programs would be targeted.

The GOP is proposing a very modest spending cut; but, like the debtor with the classic truck who blames his boss for his financial mess, Biden blames MAGA Republicans* because they want to rein in his massive and reckless spending.  But, unlike this bankruptcy debtor, Biden’s lifestyle will not be diminished by implementing this very modest fiscal sanity. 

DIANE’S PROPOSED SPENDING CUTS

Taxpayers will save at least $68 Million per month by deporting ALL illegal aliens Biden invited in.  Another savings of unknown millions would be shutting down every DEI department within each federal agency. Close down the “Ministry of Truth” agency within the Department of Homeland Security. Defund the Department of Education. Claw back any and all “climate change hoax” funding. Cancel the extra $87 Million for IRS. Defund the Department of Justice’s persecution of Americans who visited DC on January 6, 2021, and defund the DOJ’s persecution of Christians. Defund Biden’s 2024 State of the Union because his 2023 State of the Union harangue was delusional, disgusting and hate-filled, including promoting a race war. Defund Planned Parenthood. Repeal and defund Obamacare which has increased the cost of medical care AND has limited access for Americans. Cancel the unconstitutional student loan forgiveness scheme. Just a few thoughts off the top of my America-loving, America-First head.

*This name is supposed to be disparaging.  In fact, it is a compliment because MAGA Republicans are patriots who are trying to save our freedoms and our country.  This American is proud to call herself a MAGA Republican.