For the first time in the nation’s history, the national debt reached an unprecedented amount, as the Biden-Harris Administration continued to fund foreign wars before their time in the White House ended.
The United States national debt surpassed a whopping $36 trillion this week, just over three months since the previous milestone was reached at the end of July.
The mounting debt continues to affect every American, whether at the gas pump, the grocery store, or for everyday necessities. The country’s debt is so astronomical that it may be difficult for Americans to understand its implications. In lament terms, the rising debt caused by reckless spending will threaten the U.S.’s economic future and opportunities.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget (CRFB), told Fox Business that it’s alarming that our country’s current leadership lacks the seriousness to address the issue.
Republican Sen. Rick Scott (R-FL) criticized the Biden-Harris Administration for continually spending money the U.S. does not have.
Biden Administration Awards $6.6 Billion Loan to EV Maker Accused of Defrauding Investors.
The Department of Energy’s Loan Program Office is awarding $6.6 billion to a subsidiary of Rivian Automotive to construct Project Horizon, an electric-vehicle factory in Georgia east of Atlanta.
The Rivian loan is part of the Biden administration suite of regulations, investments, and subsidies meant to prioritize electric-vehicle production over traditional gas-powered cars.
“This $6 billion taxpayer-backed loan to Rivian is a glaring example of corporate welfare disguised as clean energy investment,
Rivian’s largest shareholders—Amazon, Volkswagen, Ford, BlackRock, Vanguard, and Saudi investors—are more than capable of footing the bill for their investments. Why should taxpayers shoulder the financial risk for a company backed by some of the wealthiest corporations and investors in the world?”
“Biden is giving a $6 billion federal loan to EV maker Rivian to expand their operations at a time when EV demand is waning. Rivian has been losing billions and may or not be in business in the future. This is another example of Biden putting extreme climate ideology ahead of common sense at the expense of the American people,”