'Do Americans want government or freedom?' is the question pointing to November
Prior to this crisis, trillion-dollar deficits were news.
Back in 2018, a group of leading scholars from Stanford University's Hoover Institute -- including former Secretary of State George Shultz, former Council of Economic Advisers Chair Michael Boskin and former Treasury Undersecretary for International Affairs John Taylor -- authored a piece in The Washington Post titled "A Debt Crisis is on the Horizon." They warned of the dangers of the deficit increasing from $800 billion to a trillion and national debt increasing from $15 trillion to $20 trillion.
The Congressional Budget Office now estimates that the fiscal 2020 deficit will be $3.7 trillion.
This was recently updated by Brian Riedl of the Manhattan Institute with an estimate of $4.2 trillion. Riedl projects deficits for the next 10 years averaging almost $2 trillion per year. He estimates national debt reaching $41 trillion by 2030, or 128% of our gross domestic product.
Despite these mind-boggling figures, Nancy Pelosi wants to serve up to the nation another $3 trillion in spending, including a trillion to bail out states, extending the $600 weekly benefit above unemployment insurance, a new round of cash payments to individuals -- including payments to undocumented workers -- billions in housing assistance, etc.
We're at the fork in the road, and this fork will define presidential politics in 2020.
Has government done the major part of its thing to help us get through the coronavirus crisis, or are we going to keep moving to a new welfare state and socialist America?
Sentiments gleaned from the polls show the Republicans are ready to start turning things back to individuals.
Democrats? The Heroes Act says it all.
Government or freedom? This is the question pointing to November.
Star Parker is president of the Center for Urban Renewal and Education and author of the new book "Necessary Noise: How Donald Trump Inflames the Culture War and Why This is Good News for America."Copyright 2020 Creators Syndicate, Inc.