logo
Why Are Republicans Having Such Problems Doing What Clearly Needs to Be Done?

Why Are Republicans Having Such Problems Doing What Clearly Needs to Be Done?

Epoch Times23-05-2025

Commentary
Why is it such a struggle for Republicans to do what clearly needs to be done regarding taxes and spending?
Let's get to the root of the problem.
I began my work some 30 years ago with a passion to fix what was broken in our nation's low-income communities.
That is, to end the cycle of poverty—children growing up in poor households and remaining poor as adults.
I saw that what was widely accepted as the solution—America's generous welfare state—was the problem.
Related Stories
5/16/2025
4/28/2025
It became clear to me that there is only one path out of poverty: a growing economy to create opportunity and citizens prepared, morally and physically, to participate and work.
President Bill Clinton, in his State of the Union address in 1996, announced 'the era of big government is over.'
Major welfare reform was passed. Aid to Families with Dependent Children was replaced by Temporary Assistance for Needy Families, on which I consulted with Republicans.
When TANF passed in 1996, federal spending as a percent of GDP was a little over 19 percent. When Clinton left office, it was down to 17.5 percent and federal debt was less than 33 percent of GDP.
I offer this as backdrop to the 'big, beautiful bill' with which Republicans are now struggling.
Federal spending is now 23.5 percent of GDP and federal debt is 100 percent of GDP.
I note, once again, that the average real growth of the U.S. economy from 1950–1999 was 3.6 percent per year. From 2000–2024, it was 2.2 percent per year.
Congressional Budget Office projects by 2035 federal spending will reach 24.4 percent of GDP, debt 118 percent of GDP, and growth will be down to 1.8 percent.
It is sufficient indication of how we have lost our way that it takes a book to even describe what is in the 'big, beautiful bill.' The tax code has become a massive nightmare of complexity because it's now a tool for social engineering and political favors rather than the vehicle through which we finance the legitimate functions of government.
Regarding spending, those who cower from making cuts in Medicaid should read my lips. If you care about the nation's poor, let's get our economy growing. And there is only one way to do this: less government, and lower and simpler taxes. Furthermore, is it too much to ask able-bodied adults, getting federal welfare, to work and put some money on the table toward their health care costs?
And, if we're going to be truthful here, let's get it out loud and clear. How can Republicans really claim credibility about wanting to deal with runaway government when the two single biggest government programs—Social Security and Medicare—are not even part of the discussion?
Per CBO, in 2025, Social Security and Medicare will account for more than a third of the 23.5 percent that federal spending is taking from GDP. By 2035, per CBO, Social Security and Medicare will consume 41 percent of federal spending.
The two largest federal programs, both with major fiscal problems, are not part of this discussion, and political leaders want to seem principled?
I ask every Republican to look in the mirror and ask themselves why they are serving.
Realize what I realized more than 30 years ago. Big government does not help but hurts our poor. The way to help the poor is growth, and the way to get growth is to get government out of the way.
Those who signed the Declaration of Independence concluded saying, 'We mutually pledge to each other our Lives, our Fortunes, and our Sacred Honor.'
They courageously affixed their signatures knowing war with the British empire was inevitable.
The nation's present and future is in great jeopardy. We have profoundly lost our way.
Those whose sense of mission is not aligned with the nation's founders should seek a new line of work.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oscar Health (OSCR) Soars 13% on Fourth Straight Day, Here's Why
Oscar Health (OSCR) Soars 13% on Fourth Straight Day, Here's Why

Yahoo

time42 minutes ago

  • Yahoo

Oscar Health (OSCR) Soars 13% on Fourth Straight Day, Here's Why

Oscar Health, Inc. (NYSE:OSCR) is one of the Oscar Health extended its winning streak to a fourth consecutive day on Friday, jumping 13.05 percent to close at $21.22 apiece as investor sentiment was influenced by the previous days' surge. During the shortened, four-day trading week, shares of Oscar Health, Inc. (NYSE:OSCR) already grew by 52 percent, with analysts pointing to meme trading as having buoyed its share prices. Additionally, investor sentiment was supported by a new proposal for Medicare that would allow individuals and employers to enroll in a new version called 'Part E.' A close up of a patient and a healthcare professional engaging in conversation, showing the company's commitment to patient care. While this would heighten competition with private insurers such as Oscar Health, Inc. (NYSE:OSCR), the voluntary enrollment could potentially delay or prevent Medicare's sooner-than-expected insolvency. While we acknowledge the potential of OSCR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Jean Chatzky sends powerful message on Social Security, 401(k)s
Jean Chatzky sends powerful message on Social Security, 401(k)s

Miami Herald

timean hour ago

  • Miami Herald

Jean Chatzky sends powerful message on Social Security, 401(k)s

For many Americans, preparing for retirement means carefully evaluating key financial milestones tied to different stages of life in order to maintain financial security and preserve the quality of life they hope to enjoy. Everyday costs - such as groceries, utilities, mobile services, and transportation - play a major role in shaping workers' financial priorities and determining how much they can put toward savings and investments. Jean Chatzky, former financial editor for NBC's "Today Show" and now with AARP, recognizes these challenges. She works to guide people through smart strategies for boosting their Social Security benefits and making the most of employer-sponsored 401(k) plans. Don't miss the move: Subscribe to TheStreet's free daily newsletter Assessing one's future income sources - including Social Security and personal retirement accounts such as 401(k)s - is a key part of building a secure retirement plan. Chatzky encourages Americans to think strategically about when to begin collecting Social Security, as claiming early can significantly shrink monthly payments. For those who anticipate a longer lifespan, she suggests holding off until age 70 to receive the maximum possible benefit. When it comes to married couples, Chatzky advises that the spouse with the higher earnings history delay tapping into benefits - especially if the other partner is likely to live longer - helping to ensure greater long-term financial support. She also highlights the upside of continuing to work while drawing Social Security, whether one does so for financial reasons or to stay active and connected during retirement. Related: Tony Robbins sends strong message to Americans on 401(k)s Beyond Social Security, Chatzky highlights both the opportunities and potential pitfalls tied to retirement accounts such as 401(k)s. She underscores the fact that many Americans are at real risk of depleting their savings during retirement. To help combat this, Chatzky shares practical approaches aimed at stretching retirement dollars further and minimizing the chance of financial shortfalls later in life. Chatzky emphasizes her belief that regularly setting aside money is essential for making more room in one's budget to invest in a 401(k) plan. "This is why saving in a 401(k) plan works," Chatzky explained in "Money Rules," a book she authored that offers solutions to personal finance challenges. "The money is swiped out of your pay before it ever lands in your checking account so you never see it. It's invisible, which makes it safe, for out-of-sight means you can't pull it out of the ATM." "If you can't see it and you can't touch it, you won't spend it," Chatzky wrote. More on retirement: Dave Ramsey offers urgent thoughts about MedicareJean Chatzky shares major statement on Social SecurityTony Robbins has blunt words on IRAs,401(k)s Chatzky advises people that there is no need to limit this philosophy to one's 401(k) contributions. "Have money swiped out of your checking account as soon as you get paid," she wrote. "Barricade it by parking it in places that penalize you for early withdrawal like 529 college savings accounts, IRAs, and certificates of deposit." "Even putting the money in an Internet savings account that doesn't come with an ATM card can do the trick surprisingly well," Chatzky continued. Related: Shark Tank's Kevin O'Leary warns Americans on 401(k)s Chatzky explains one way to look at retirement savings tasks such as boosting 401(k) values to achieve goals: as financial security maps. "The only way to find financial security is to draw yourself a map," Chatzky wrote. "Folks who have specific financial plans that detail what they want - say, retirement at 67 with a paid-off mortgage, membership at the local golf club, and enough money to take two trips to the Caribbean a year - save more than people who don't have specific financial plans." Chatzky points out that people tend to get sidetracked by everyday distractions, which is why having a clear financial plan is essential. Without a direction, it's difficult to make meaningful progress toward retirement goals. Of course, she acknowledges that plans can - and should - evolve. One day, she explains, you might realize you no longer see yourself retiring in your current home and instead imagine starting a new chapter somewhere more adventurous or serene. When that moment comes, the solution isn't to abandon planning altogether - it's to create a new roadmap that reflects your updated vision. To Chatzky, regularly refining one's goals is far more effective than drifting without any at all. Related: Dave Ramsey sends strong message to Americans on Medicare The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

Customer data possibly leaked in Aflac cyberattack, the third insurance hack this month
Customer data possibly leaked in Aflac cyberattack, the third insurance hack this month

USA Today

time2 hours ago

  • USA Today

Customer data possibly leaked in Aflac cyberattack, the third insurance hack this month

The Aflac breach potentially impacted files with customers' Social Security numbers and health details. Insurance company Aflac disclosed this week that cybercriminals breached its U.S. network and may have accessed customers' personal information, the latest in a string of cyberattacks on insurance companies announced this month. Aflac, which provides home and life insurance and manages data for more than 50 million policyholders, said in a June 20 federal regulatory filing it identified suspicious activity on its U.S. network on June 12. The company said it believes it stopped the intrusion within hours of identifying it, calling the attack part of a 'cybercrime campaign against the insurance industry.' The breach potentially impacted files containing customers' personal information, such as Social Security numbers and health-related details. Aflac said it is investigating the breach with the help of third-party cybersecurity experts and has not yet determined how many customers were affected. An Aflac spokesperson told Reuters that the characteristics of the incident were consistent with the hacking group Scattered Spider, which has a reputation for targeting multiple companies in a single industry in waves. More: This is how you stop online trackers from collecting your health data Latest Tech News: Is TikTok getting banned? Trump says he'll 'probably' extend deadline again It's the largest insurance provider yet to disclose a breach this month, after cyberattacks on Erie Insurance and Philadelphia Insurance Companies disrupted their network operations. Aflac said the attack did not affect its systems and it is able to continue providing services as usual while it responds to the security breach. Contributing: Reuters. Kathryn Palmer is a national trending news reporter for USA TODAY. You can reach her at kapalmer@ and on X @KathrynPlmr.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store