In 1983, Tom Cruise starred in the film “Risky Business.” It’s about wealthy parents in Chicago who go on vacation and leave the house under the stewardship of their high school-age son.
In short order, the boy throws a wild party, and the rest of the film is about the chaotic fallout.
It’s the closest thing I can think of to capture current reality in Washington, D.C., as the kids—the Democrats running the White House and Congress—throw their big party and breathlessly spend their parents’ money (in this case, our money), knowing that the party will be over when adults return.
The $3.5-plus trillion spending binge that Democrats are rushing to pass is not following a period of austerity. Record spending and debt have been piled on since the Obama years, using government to spend its way out of a government-induced economic collapse. And then we had the COVID-19 challenge and massive new government spending to get out of that.