On December 16th, 1773 the Sons of Liberty in Boston, in protest of the Tea Act, destroyed an entire shipment of tea sent by the East India Company, in a political protest referred to as the Boston Tea Party.

Following the Wall Street bail-outs in 2009, a political movement also protesting their lack of representation in government sought a reduction of the U.S. national debt and deficits by reducing government spending and lowering taxes. They were referred to as The Tea Party, named from the aforementioned Boston variety.

Since then, supporters of the Tea Party have had a major impact on the internal politics of Republicans and have helped secure both houses of congress. But these representatives who were elected to bring fiscal discipline to Washington have failed to deliver on their promises.

A year before The Great Recession the Federal deficit was $162 billion, it peaked in 2009 at $1.45 trillion and this year came in at $439 billion, and is projected to increase significantly after 2018. All this overspend has driven our national debt to over $18 trillion dollars, which is already north of 100% of the Gross Domestic Product.

The Congressional Budget Office (CBO) is on record stating the relationship between debt and GDP is on, “a trend that cannot be sustained indefinitely,”

Just recently, the Treasury department announced the government will reach its borrowing limit around Nov. 3th, causing Republicans to circle the wagons and threaten to shut the government down. But their threats were not really aimed at Washington’s overspend, instead the Tea Party Republicans are linking the battle over the continuing resolution to keep the government operational, with the fight to defund Planned Parenthood.

Whatever your opinion is on Planned Parenthood, my own is that it is an institution that doesn’t need government funding and its practice of selling aborted babies’ body parts is beyond despicable, it still doesn’t solve our long-term trend towards insolvency.

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