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The Foothill Dragon Press

The Student News Site of Foothill Technology High School

The Foothill Dragon Press

The Student News Site of Foothill Technology High School

The Foothill Dragon Press

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Being bad with spending is the new black

Not only is it fiscally irresponsible, it’s downright stupid. The deal that the White House is trying to work out with Congress extends not only the Bush Era Tax Cuts that are due to expire at the end of January, but also to unemployment benefits which have recently been running out.

This is a bad idea. This legislation if passed would cost billions of dollars, an amount that we don’t need added to our 13.8 trillion dollar debt. Countries are folding left, right and center right now due to debts, and although we get leeway because we are the United States and are such a large part of the world economy, let’s be realistic.

We keep borrowing and borrowing from China and other countries, and we need to pay them back. Being so in debt to other countries, especially countries such as China makes us beholden to them in a way that is not conducive to our country.

This new legislation would be a double whammy to our debt. Not only will it take money to give money to the unemployed, we won’t even have more taxes to balance it out and keep it from pulling us deeper into debt.

Granted in the grand scheme of things Congress spends more money on other things (like Social Security and our military) the fact of the matter is that our spending is out of control. We need to start getting our deficit under control, and to do we need to start tightening our belts, paying taxes and ending unemployment benefits.

The argument that this deal would in fact stimulate our economy is pure fallacy. We still have the Bush Tax Cuts right now, and unemployment benefits too (which would start running out in the coming months if not extended). Doing more of the same thing will not create any more jobs than it already has.

 

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Being bad with spending is the new black