Hello everybody, and thank you for tuning into the weekly report.

Growing U.S. debt menaces liberty and prosperity. Congress's top priority this fall

will be passing legislation funding the government and avoiding a shutdown.

As of this writing, it appears unlikely that the Republican-controlled House will be able

to make a deal with President Biden and the Senate Democrats on a long-term spending bill.

Instead, they will likely pass a short-term funding bill to give themselves more time

to reach agreement on a longer-term bill. Any bipartisan agreement is unlikely to reduce government

spending or begin to pay down or stop the growth of the over $32 trillion national debt,

which the Congressional Budget Office projects will grow by at least $115 trillion over the next

30 years. Instead, Congress and the administration will continue to pretend they are addressing

the spending problem by reducing in the projected rate of spending growth and other gimmicks.

The sad fact is both parties, along with a majority of the American people, are addicted to

welfare warfare spending. What little resistance there is to big government within the Republican

Party is likely to be further weakened by the rise of a new form of conservatism that advocates

the use of government power, including deficits spending and increasing the federal debt

to advance conservative political and social goals. The failure to take seriously,

the threat to the American economy caused by reckless federal spending is illustrated by the

reactions to the credit rating agency, Fitch's downgrade of the U.S. government's credit rating.

Instead of treating it as a wake-up call, government officials like current Treasury Secretary and

former Federal Reserve or Chair Janet Yellen dismissed the downgrade as arbitrary and based on

outdated data. One reason Yellen and others may be so blasey about the federal debt is that

they believe the federal government will bail the government out by holding interest rates down

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