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Notable/Quotable: The financing of the Democrat Party political empire

10/1/2022, 9:38 am
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From The Silent Price You’ll Pay for our Mounting National Debt by Red Jahncke, The Wall Street Journal, Sept.29 2022:

Nat­u­rally, if we do slip—or plum­met—into a se­ri­ous re­ces­sion, fed­eral in­come-tax rev­enue will erode. Even be­fore re­ces­sion, the past nine months of de­clin­ing stock and bond prices vir­tually as­sure an al­most complete col­lapse in cap­i­tal-gains-tax rev­enue come tax time next April. Loss of that cat­e­gory alone—which av­er­ages about 12% of fed­eral in­di­vid­ual in­come-tax rev­enue will ne­ces­si­tate hun­dreds of billions in bor­row­ing to re­place lost rev­enue.

In­fla­tion and in­ter­est rates are in­flict­ing painful dam­age to­day. Yet seem­ingly with­out no­tice the na­tional debt is work­ing like a can­cer sap­ping the na­tion’s long-term eco­nomic vi­tal­ity. Whether we reach the “doom loop,” or just be­come mired in stagfla­tion, unchecked gov­ern­ment spend­ing and mount­ing na­tional debt will drain all growth po­ten­tial from the na­tional econ­omy sooner rather than later.


The financing of the Democrat Party political empire doesn’t come cheap.
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